RumbleOn’s (RMBL) “Neutral” Rating Reiterated at Robert W. Baird

Robert W. Baird restated their neutral rating on shares of RumbleOn (NASDAQ:RMBL) in a research report sent to investors on Friday, MarketBeat reports. The firm currently has a $3.00 target price on the stock, down from their prior target price of $5.00.

Other analysts have also recently issued reports about the stock. DA Davidson reduced their target price on shares of RumbleOn from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Wedbush decreased their target price on RumbleOn from $5.50 to $5.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th.

RumbleOn Price Performance

NASDAQ:RMBL opened at $2.27 on Friday. RumbleOn has a 52-week low of $2.16 and a 52-week high of $7.06. The company has a quick ratio of 0.29, a current ratio of 1.12 and a debt-to-equity ratio of 2.52. The firm has a market cap of $85.78 million, a P/E ratio of -0.27 and a beta of 2.15. The business’s 50-day moving average price is $3.82 and its 200 day moving average price is $4.79.

Hedge Funds Weigh In On RumbleOn

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prescott Group Capital Management L.L.C. acquired a new stake in shares of RumbleOn in the fourth quarter worth $282,000. JPMorgan Chase & Co. boosted its position in RumbleOn by 162.4% during the 4th quarter. JPMorgan Chase & Co. now owns 62,657 shares of the company’s stock worth $340,000 after acquiring an additional 38,778 shares during the period. Geode Capital Management LLC grew its stake in RumbleOn by 8.7% during the 3rd quarter. Geode Capital Management LLC now owns 442,328 shares of the company’s stock valued at $2,119,000 after acquiring an additional 35,536 shares in the last quarter. PharVision Advisers LLC purchased a new position in RumbleOn during the 4th quarter valued at about $114,000. Finally, Deutsche Bank AG increased its holdings in shares of RumbleOn by 260.3% in the 4th quarter. Deutsche Bank AG now owns 22,545 shares of the company’s stock valued at $122,000 after purchasing an additional 16,288 shares during the period. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

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.