RumbleON (NASDAQ:RMBL) Trading 1.5% Higher - Should You Buy?

RumbleON, Inc. (NASDAQ:RMBL - Get Free Report) shot up 1.5% during mid-day trading on Tuesday . The company traded as high as $2.82 and last traded at $2.67. 175,730 shares traded hands during trading, an increase of 24% from the average session volume of 141,662 shares. The stock had previously closed at $2.63.

Analyst Upgrades and Downgrades

RMBL has been the subject of a number of research analyst reports. DA Davidson reduced their price objective on RumbleON from $4.00 to $3.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Baird R W lowered shares of RumbleON from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Wedbush lowered their price target on RumbleON from $5.50 to $5.00 and set an "outperform" rating for the company in a report on Wednesday, March 12th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $3.00 price objective (down from $5.00) on shares of RumbleON in a research report on Friday, April 4th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, RumbleON has an average rating of "Hold" and a consensus target price of $4.50.

RumbleON Stock Up 1.5%

The stock has a fifty day moving average of $2.18 and a two-hundred day moving average of $3.26. The firm has a market capitalization of $100.90 million, a price-to-earnings ratio of -1.22 and a beta of 1.66. The company has a debt-to-equity ratio of 8.00, a current ratio of 1.14 and a quick ratio of 0.27.

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

Institutional Trading of RumbleON

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in shares of RumbleON by 18.8% in the 4th quarter. Bank of New York Mellon Corp now owns 38,380 shares of the company's stock worth $208,000 after purchasing an additional 6,084 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of RumbleON by 162.4% in the fourth quarter. JPMorgan Chase & Co. now owns 62,657 shares of the company's stock valued at $340,000 after acquiring an additional 38,778 shares in the last quarter. Geode Capital Management LLC increased its position in shares of RumbleON by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 475,315 shares of the company's stock valued at $2,581,000 after purchasing an additional 32,987 shares during the last quarter. Wells Fargo & Company MN raised its position in RumbleON by 36.4% in the fourth quarter. Wells Fargo & Company MN now owns 10,084 shares of the company's stock worth $55,000 after acquiring an additional 2,689 shares during the period. Finally, Barclays PLC lifted its stake in RumbleON by 21.2% in the fourth quarter. Barclays PLC now owns 25,787 shares of the company's stock valued at $140,000 after purchasing an additional 4,509 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.