Short Interest in RumbleOn, Inc. (NASDAQ:RMBL) Increases By 19.0%

RumbleOn, Inc. (NASDAQ:RMBL) was the recipient of a large increase in short interest during the month of 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 trading volume of 124,900 shares, the days-to-cover ratio is currently 11.0 days.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. DA Davidson restated a “neutral” rating and set a $5.00 price target (down from $7.50) on shares of RumbleOn in a research report on Tuesday, January 14th. B. Riley cut shares of RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a report on Friday, November 29th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of RumbleOn during the fourth quarter valued at approximately $58,000. Barclays PLC increased its holdings 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 period. JPMorgan Chase & Co. lifted its position 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 buying an additional 17,036 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 period. Finally, Empowered Funds LLC raised its position in shares of RumbleOn by 5.3% during the third quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock worth $317,000 after purchasing an additional 3,350 shares during the period. 66.14% of the stock is owned by hedge funds and other institutional investors.

RumbleOn Stock Down 5.7 %

NASDAQ:RMBL traded down $0.25 during midday trading on Monday, reaching $4.10. 71,117 shares of the stock traded hands, compared to its average volume of 83,782. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.29 and a current ratio of 1.12. RumbleOn has a 12-month low of $3.13 and a 12-month high of $8.17. The stock has a market capitalization of $145.02 million, a PE ratio of -0.49 and a beta of 2.26. The business 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 quarterly earnings results on Tuesday, November 12th. The company reported ($0.32) EPS 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 company had revenue of $295.00 million during the quarter, compared to analyst estimates of $302.76 million. During the same period in the prior year, the business posted ($0.71) EPS. On average, equities analysts forecast that RumbleOn will post -0.87 earnings per share for the current fiscal year.

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.