RumbleON (NASDAQ:RMBL) Trading 1.5% Higher - Here's Why

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

Analysts Set New Price Targets

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

RumbleON Price Performance

The company's fifty day moving average is $2.18 and its 200 day moving average is $3.26. The firm has a market cap of $102.41 million, a price-to-earnings ratio of -1.24 and a beta of 1.66. 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 announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.26) EPS for the quarter, meeting analysts' consensus estimates of ($0.26). The firm 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%. On average, equities research analysts predict that RumbleON, Inc. will post -0.89 EPS for the current year.

Institutional Trading of RumbleON

Large investors have recently added to or reduced their stakes in the company. First Financial Bankshares Inc bought a new position in RumbleON in the 1st quarter valued at about $283,000. JPMorgan Chase & Co. grew its holdings in shares of RumbleON by 162.4% during the 4th quarter. JPMorgan Chase & Co. now owns 62,657 shares of the company's stock valued at $340,000 after purchasing an additional 38,778 shares during the last quarter. Nuveen LLC bought a new stake in shares of RumbleON during the 1st quarter valued at approximately $98,000. Geode Capital Management LLC grew its holdings 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. Finally, Magnus Financial Group LLC grew its holdings in shares of RumbleON by 141.7% during the 1st quarter. Magnus Financial Group LLC now owns 40,000 shares of the company's stock valued at $113,000 after purchasing an additional 23,451 shares during the last quarter. Institutional investors and hedge funds own 66.14% of the company's stock.

RumbleON Company Profile

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.