RumbleOn, Inc. (NASDAQ:RMBL) Short Interest Down 15.3% in December

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

Hedge Funds Weigh In On RumbleOn

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

Wall Street Analysts Forecast Growth

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

RumbleOn Price Performance

Shares of RMBL traded down $0.36 during mid-day trading on Friday, hitting $5.48. The company’s 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. RumbleOn has a fifty-two week low of $3.13 and a fifty-two week high of $8.31. 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 firm has a 50-day moving average price of $5.73 and a 200 day moving average price of $4.84.

RumbleOn (NASDAQ:RMBL) last announced its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) 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 net margin of 15.25% and a negative return on equity of 122.45%. During the same period last year, the firm earned ($0.71) earnings per share. On average, research analysts predict that RumbleOn will post -0.87 EPS for the current fiscal 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.