RumbleON (NASDAQ:RMBL) Price Target Cut to $15.00

RumbleON (NASDAQ:RMBL – Get Rating) had its price objective dropped by investment analysts at B. Riley from $26.00 to $15.00 in a report released on Friday, The Fly reports. B. Riley’s target price suggests a potential upside of 107.47% from the company’s previous close.

Several other analysts have also weighed in on the stock. Robert W. Baird dropped their price objective on shares of RumbleON from $15.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, November 25th. TheStreet lowered shares of RumbleON from a “c-” rating to a “d+” rating in a report on Monday, February 27th.

RumbleON Stock Performance

NASDAQ RMBL opened at $7.23 on Friday. The firm has a market cap of $117.05 million, a price-to-earnings ratio of 2.42 and a beta of 2.30. The company has a 50 day moving average of $8.56 and a 200-day moving average of $11.44. The company has a current ratio of 1.49, a quick ratio of 0.33 and a debt-to-equity ratio of 0.78. RumbleON has a 1-year low of $5.89 and a 1-year high of $38.73.

Institutional Investors Weigh In On RumbleON

Several large investors have recently modified their holdings of the company. MetLife Investment Management LLC acquired a new stake in RumbleON in the third quarter worth $97,000. UBS Oconnor LLC lifted its stake in shares of RumbleON by 50.0% in the third quarter. UBS Oconnor LLC now owns 150,000 shares of the company’s stock valued at $2,538,000 after buying an additional 50,000 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of RumbleON in the third quarter valued at $591,000. Corton Capital Inc. bought a new position in shares of RumbleON in the second quarter valued at $229,000. Finally, Pentwater Capital Management LP lifted its stake in shares of RumbleON by 150.0% in the second quarter. Pentwater Capital Management LP now owns 25,000 shares of the company’s stock valued at $368,000 after buying an additional 15,000 shares in the last quarter. 42.57% of the stock is currently owned by institutional investors and hedge funds.

About RumbleON

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RumbleOn, Inc engages in the provision of motor vehicle dealer and e-commerce platforms. It operates through the following segments: Powersports, Automotive, and Vehicle Logistics and Transportation. The Powersports segment distributes pre-owned motorcycles and powersports vehicles. The Automotive segment focuses on the distribution of pre-owned cars and trucks.