RumbleOn (NASDAQ:RMBL) Given “Neutral” Rating at Robert W. Baird

Robert W. Baird reissued their neutral rating on shares of RumbleOn (NASDAQ:RMBL) in a research report report published on Friday morning, Marketbeat reports. The firm currently has a $3.00 target price on the stock, down from their prior target price of $5.00.

Other equities analysts have also issued research reports about the stock. DA Davidson dropped their price target on shares of RumbleOn from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. 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 note on Wednesday, March 12th.

RumbleOn Stock Down 5.4 %

RMBL opened at $2.27 on Friday. RumbleOn has a 12 month low of $2.16 and a 12 month high of $7.06. The business has a 50-day moving average of $3.82 and a two-hundred day moving average of $4.79. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.12 and a quick ratio of 0.29. The stock has a market capitalization of $85.78 million, a price-to-earnings ratio of -0.27 and a beta of 2.15.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RMBL. Wells Fargo & Company MN boosted its position in RumbleOn by 36.4% during the 4th quarter. Wells Fargo & Company MN now owns 10,084 shares of the company’s stock worth $55,000 after purchasing an additional 2,689 shares during the period. Boothbay Fund Management LLC purchased a new stake in shares of RumbleOn in the fourth quarter worth about $55,000. SG Americas Securities LLC purchased a new stake in shares of RumbleOn in the fourth quarter worth about $58,000. Barclays PLC grew its stake in shares of RumbleOn by 278.7% in the third quarter. Barclays PLC now owns 21,278 shares of the company’s stock valued at $102,000 after buying an additional 15,660 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of RumbleOn by 249.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,879 shares of the company’s stock valued at $114,000 after buying an additional 17,036 shares during the period. 66.14% of the stock is owned by institutional investors and hedge funds.

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.