RumbleOn (NASDAQ:RMBL) Price Target Lowered to $5.00 at Robert W. Baird

RumbleOn (NASDAQ:RMBL) had its price objective decreased by Robert W. Baird from $8.00 to $5.00 in a research note released on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. B. Riley downgraded 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. DA Davidson reiterated a “neutral” rating and issued a $5.00 target price (down previously from $7.50) on shares of RumbleOn in a report on Tuesday, January 14th.

RumbleOn Stock Up 5.8 %

RumbleOn stock opened at $3.80 on Wednesday. The company has a market capitalization of $134.41 million, a P/E ratio of -0.45 and a beta of 2.17. The firm’s fifty day simple moving average is $4.34 and its 200-day simple moving average is $4.92. The company has a current ratio of 1.12, a quick ratio of 0.29 and a debt-to-equity ratio of 2.52. RumbleOn has a 1-year low of $3.13 and a 1-year high of $7.53.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its holdings in shares of RumbleOn by 36.4% during the 4th quarter. Wells Fargo & Company MN now owns 10,084 shares of the company’s stock worth $55,000 after purchasing an additional 2,689 shares during the period. State Street Corp increased its holdings in shares of RumbleOn by 1.7% during the 3rd quarter. State Street Corp now owns 181,190 shares of the company’s stock worth $868,000 after purchasing an additional 3,061 shares during the period. Empowered Funds LLC increased its holdings in shares of RumbleOn by 5.3% during the 3rd 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. Barclays PLC increased its holdings in shares of RumbleOn by 21.2% during the 4th quarter. Barclays PLC now owns 25,787 shares of the company’s stock worth $140,000 after purchasing an additional 4,509 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of RumbleOn by 18.8% during the 4th quarter. Bank of New York Mellon Corp now owns 38,380 shares of the company’s stock worth $208,000 after purchasing an additional 6,084 shares during the period. Institutional investors own 66.14% of the company’s stock.

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.