RumbleON (NASDAQ:RMBL) Stock Price Down 8.1% - Here's What Happened

Key Points

• RumbleON's stock price decreased by 8.1% recently, dropping to $2.16, with trading volume down 48% from the average.
• Analyst ratings for RumbleON have shifted, with Robert W. Baird and DA Davidson both setting a new price target of $3.00, down from previous figures.
• The company's latest quarterly earnings showed a negative EPS of ($0.26), meeting analyst estimates, with a projected EPS of -0.89 for the current fiscal year.

RumbleON, Inc. (NASDAQ:RMBL - Get Free Report) was down 8.1% on Wednesday . The company traded as low as $2.16 and last traded at $2.16. Approximately 29,232 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 56,568 shares. The stock had previously closed at $2.35.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RMBL shares. Baird R W cut shares of RumbleON from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. DA Davidson reduced their price target on shares of RumbleON from $4.00 to $3.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, Robert W. Baird restated a "neutral" rating and issued a $3.00 price target (down from $5.00) on shares of RumbleON in a research report on Friday, April 4th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $4.50.

RumbleON Price Performance

The company's fifty day moving average is $2.22 and its two-hundred day moving average is $2.94. The firm has a market capitalization of $78.98 million, a price-to-earnings ratio of -0.96 and a beta of 1.27. The company has a quick ratio of 0.27, a current ratio of 1.14 and a debt-to-equity ratio of 8.00.

RumbleON (NASDAQ:RMBL - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). RumbleON had a negative net margin of 6.81% and a negative return on equity of 63.42%. The firm had revenue of $244.70 million during the quarter. Equities research analysts anticipate that RumbleON, Inc. will post -0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RumbleON

Large investors have recently made changes to their positions in the stock. Northern Trust Corp grew its position in RumbleON by 8.4% in the fourth quarter. Northern Trust Corp now owns 146,387 shares of the company's stock valued at $795,000 after purchasing an additional 11,395 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of RumbleON by 260.3% during the 4th quarter. Deutsche Bank AG now owns 22,545 shares of the company's stock worth $122,000 after buying an additional 16,288 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of RumbleON by 162.4% during the 4th quarter. JPMorgan Chase & Co. now owns 62,657 shares of the company's stock worth $340,000 after buying an additional 38,778 shares during the last quarter. Bank of America Corp DE increased its position in RumbleON by 39.3% during the fourth quarter. Bank of America Corp DE now owns 26,155 shares of the company's stock worth $142,000 after acquiring an additional 7,383 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in RumbleON by 72.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 21,621 shares of the company's stock worth $117,000 after acquiring an additional 9,088 shares during the period. Institutional investors own 66.14% of the company's stock.

About RumbleON

RumbleOn, Inc primarily operates as a powersports retailer in the United States. It operates in two segments, Powersports and Vehicle Transportation Services. The Powersports segment provides new and pre-owned motorcycles, all-terrain vehicles, utility terrain or side-by-side vehicles, personal watercraft, snowmobiles, and other powersports products.