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

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

Wall Street Analyst Weigh In

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

Institutional Trading of RumbleOn

Large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its position 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 last quarter. Citigroup Inc. boosted its holdings in RumbleOn by 46,928.8% in the third quarter. Citigroup Inc. now owns 1,701,503 shares of the company’s stock valued at $8,150,000 after purchasing an additional 1,697,885 shares during the period. Rhumbline Advisers raised its holdings in RumbleOn by 3,910.5% in the second quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock valued at $81,000 after acquiring an additional 19,279 shares in the last quarter. Magnus Financial Group LLC lifted its stake in RumbleOn by 146.8% in the third quarter. Magnus Financial Group LLC now owns 76,500 shares of the company’s stock worth $366,000 after acquiring an additional 45,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of RumbleOn by 35.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock valued at $120,000 after purchasing an additional 7,704 shares during the last quarter. Hedge funds and other institutional investors own 66.14% of the company’s stock.

RumbleOn Trading Down 0.2 %

RumbleOn stock traded down $0.01 during midday trading on Tuesday, reaching $5.62. The stock had a trading volume of 40,979 shares, compared to its average volume of 161,353. RumbleOn has a 52-week low of $3.13 and a 52-week high of $8.31. The company has a fifty day moving average of $5.73 and a 200 day moving average of $4.83. The firm has a market cap of $198.79 million, a price-to-earnings ratio of -0.67 and a beta of 2.23. The company has a quick ratio of 0.29, a current ratio of 1.12 and a debt-to-equity ratio of 2.52.

RumbleOn (NASDAQ:RMBL) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.22). The business had revenue of $295.00 million during the quarter, compared to analysts’ expectations of $302.76 million. RumbleOn had a negative return on equity of 122.45% and a negative net margin of 15.25%. During the same period last year, the company earned ($0.71) earnings per share. On average, analysts anticipate that RumbleOn will post -0.87 earnings per share 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.