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

RumbleOn, Inc. (NASDAQ:RMBL) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 1,380,000 shares, an increase of 19.0% from the December 31st total of 1,160,000 shares. Based on an average daily volume of 124,900 shares, the short-interest ratio is currently 11.0 days.

RumbleOn Stock Down 5.7 %

RumbleOn stock traded down $0.25 during mid-day trading on Monday, hitting $4.10. 71,117 shares of the company’s stock were exchanged, compared to its average volume of 83,782. RumbleOn has a 1-year low of $3.13 and a 1-year high of $8.17. The company has a current ratio of 1.12, a quick ratio of 0.29 and a debt-to-equity ratio of 2.52. The stock has a market cap of $145.02 million, a P/E ratio of -0.49 and a beta of 2.26. The stock has a 50 day moving average of $5.36 and a two-hundred day moving average of $4.89.

RumbleOn (NASDAQ:RMBL) last posted its earnings results 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). RumbleOn had a negative return on equity of 122.45% and a negative net margin of 15.25%. The firm had revenue of $295.00 million during the quarter, compared to analyst estimates of $302.76 million. During the same quarter last year, the business posted ($0.71) earnings per share. As a group, analysts anticipate that RumbleOn will post -0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RMBL shares. DA Davidson reissued a “neutral” rating and set a $5.00 price objective (down previously from $7.50) on shares of RumbleOn in a research note on Tuesday, January 14th. B. Riley downgraded RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a report on Friday, November 29th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMBL. Citigroup Inc. increased its position in RumbleOn by 46,928.8% in the 3rd quarter. Citigroup Inc. now owns 1,701,503 shares of the company’s stock valued at $8,150,000 after acquiring an additional 1,697,885 shares during the period. Geode Capital Management LLC grew its stake in RumbleOn by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 442,328 shares of the company’s stock valued at $2,119,000 after buying an additional 35,536 shares in the last quarter. State Street Corp boosted its stake in RumbleOn by 1.7% during the third quarter. State Street Corp now owns 181,190 shares of the company’s stock valued at $868,000 after buying an additional 3,061 shares during the period. Magnus Financial Group LLC boosted its stake in RumbleOn by 146.8% in the third quarter. Magnus Financial Group LLC now owns 76,500 shares of the company’s stock worth $366,000 after buying an additional 45,500 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in RumbleOn by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock valued at $317,000 after buying an additional 3,350 shares during the period. 66.14% of the stock is owned by institutional investors and hedge funds.

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.