RumbleOn (NASDAQ:RMBL) Price Target Lowered to $4.00 at DA Davidson

RumbleOn (NASDAQ:RMBL) had its target price reduced by DA Davidson from $5.00 to $4.00 in a research report released on Wednesday morning,Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the stock. Robert W. Baird cut their price objective on shares of RumbleOn from $8.00 to $5.00 and set an “outperform” rating on the stock in a research report on Wednesday. B. Riley lowered shares of RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a research note on Friday, November 29th. Finally, Wedbush decreased their price objective on shares of RumbleOn from $5.50 to $5.00 and set an “outperform” rating for the company in a report on Wednesday.

RumbleOn Stock Performance

Shares of RMBL stock opened at $3.80 on Wednesday. RumbleOn has a fifty-two week low of $3.13 and a fifty-two week high of $7.53. The stock’s 50-day moving average is $4.34 and its two-hundred day moving average is $4.92. 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 market cap of $134.41 million, a P/E ratio of -0.45 and a beta of 2.17.

Hedge Funds Weigh In On RumbleOn

Several hedge funds have recently bought and sold shares of RMBL. Citigroup Inc. increased its position in RumbleOn by 46,928.8% during the third quarter. Citigroup Inc. now owns 1,701,503 shares of the company’s stock worth $8,150,000 after buying an additional 1,697,885 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in shares of RumbleOn in the fourth quarter valued at about $282,000. JPMorgan Chase & Co. grew its position in shares of RumbleOn by 162.4% in the fourth quarter. JPMorgan Chase & Co. now owns 62,657 shares of the company’s stock valued at $340,000 after purchasing an additional 38,778 shares during the last quarter. Geode Capital Management LLC grew its position in shares of RumbleOn by 8.7% in the third quarter. Geode Capital Management LLC now owns 442,328 shares of the company’s stock valued at $2,119,000 after purchasing an additional 35,536 shares during the last quarter. Finally, PharVision Advisers LLC acquired a new stake in shares of RumbleOn in the fourth quarter valued at about $114,000. 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.