RumbleOn, Inc. (NASDAQ:RMBL) Sees Large Drop in Short Interest

RumbleOn, Inc. (NASDAQ:RMBL) was the target of a large decline in short interest in December. As of December 15th, there was short interest totalling 1,050,000 shares, a decline of 15.3% from the November 30th total of 1,240,000 shares. Based on an average trading volume of 120,800 shares, the short-interest ratio is currently 8.7 days.

Wall Street Analyst Weigh In

Separately, B. Riley lowered shares of RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a research report on Friday, November 29th.

Hedge Funds Weigh In On RumbleOn

Institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers increased its stake in shares of RumbleOn by 3,910.5% in the second quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock valued at $81,000 after buying an additional 19,279 shares in the last quarter. Barclays PLC grew its holdings in RumbleOn by 278.7% during the 3rd quarter. Barclays PLC now owns 21,278 shares of the company’s stock worth $102,000 after acquiring an additional 15,660 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in RumbleOn by 249.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,879 shares of the company’s stock worth $114,000 after acquiring an additional 17,036 shares during the last quarter. Dimensional Fund Advisors LP increased its position in RumbleOn by 35.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock valued at $120,000 after acquiring an additional 7,704 shares in the last quarter. Finally, Magnus Financial Group LLC bought a new position in shares of RumbleOn in the second quarter worth about $127,000. Institutional investors and hedge funds own 66.14% of the company’s stock.

RumbleOn Price Performance

Shares of RMBL traded down $0.36 during trading hours on Friday, hitting $5.48. The stock had a trading volume of 161,509 shares, compared to its average volume of 162,128. The stock has a market capitalization of $193.83 million, a price-to-earnings ratio of -0.65 and a beta of 2.23. 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 company’s fifty day moving average is $5.73 and its two-hundred day moving average is $4.84. RumbleOn has a 52 week low of $3.13 and a 52 week high of $8.31.

RumbleOn (NASDAQ:RMBL) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The firm had revenue of $295.00 million for the quarter, compared to analyst estimates of $302.76 million. RumbleOn had a negative return on equity of 122.45% and a negative net margin of 15.25%. During the same period in the previous year, the business posted ($0.71) EPS. On average, analysts anticipate that RumbleOn will post -0.87 EPS for the current year.

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.