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

RumbleOn, Inc. (NASDAQ:RMBL) was the recipient of a significant decline in short interest during the month of 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 daily volume of 120,800 shares, the days-to-cover ratio is presently 8.7 days.

Analyst Upgrades and Downgrades

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

Institutional Trading of RumbleOn

Large investors have recently modified their holdings of the business. Empowered Funds LLC lifted its position in shares of RumbleOn by 5.3% in the third quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock valued at $317,000 after acquiring an additional 3,350 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of RumbleOn by 46,928.8% during the 3rd quarter. Citigroup Inc. now owns 1,701,503 shares of the company’s stock worth $8,150,000 after acquiring an additional 1,697,885 shares during the period. Rhumbline Advisers boosted its position in shares of RumbleOn by 3,910.5% in the second quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after acquiring an additional 19,279 shares during the last quarter. Magnus Financial Group LLC grew its holdings in RumbleOn by 146.8% in the third quarter. Magnus Financial Group LLC now owns 76,500 shares of the company’s stock valued at $366,000 after purchasing an additional 45,500 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in RumbleOn by 35.9% during the second quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock worth $120,000 after purchasing an additional 7,704 shares during the period. 66.14% of the stock is currently owned by institutional investors and hedge funds.

RumbleOn Price Performance

Shares of NASDAQ:RMBL traded down $0.01 during trading on Tuesday, hitting $5.62. 40,979 shares of the stock were exchanged, compared to its average volume of 161,353. The company has a market cap of $198.79 million, a PE ratio of -0.67 and a beta of 2.23. 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 company has a fifty day moving average price of $5.73 and a two-hundred day moving average price of $4.83. RumbleOn has a 12-month low of $3.13 and a 12-month high of $8.31.

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 net margin of 15.25% and a negative return on equity of 122.45%. The firm had revenue of $295.00 million during the quarter, compared to analyst estimates of $302.76 million. During the same period last year, the company posted ($0.71) EPS. On average, analysts forecast 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.