RumbleOn (NASDAQ:RMBL) Price Target Cut to $7.00 by Analysts at B. Riley

RumbleOn (NASDAQ:RMBL) had its target price cut by B. Riley from $9.00 to $7.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, Wedbush lowered their target price on RumbleOn from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th.

RumbleOn Stock Performance

Shares of NASDAQ RMBL opened at $5.16 on Wednesday. The business’s 50-day moving average price is $4.82 and its two-hundred day moving average price is $4.77. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.12 and a quick ratio of 0.27. RumbleOn has a one year low of $3.13 and a one year high of $8.84. The company has a market capitalization of $182.07 million, a P/E ratio of -0.61 and a beta of 2.08.

Institutional Trading of RumbleOn

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its stake in shares of RumbleOn by 3,910.5% during the 2nd quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after acquiring an additional 19,279 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of RumbleOn during the 1st quarter worth about $90,000. Dimensional Fund Advisors LP boosted its stake in shares of RumbleOn by 35.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock worth $120,000 after acquiring an additional 7,704 shares in the last quarter. Magnus Financial Group LLC bought a new stake in shares of RumbleOn during the 2nd quarter worth about $127,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of RumbleOn during the 2nd quarter worth about $182,000. Institutional investors own 66.14% of the company’s stock.

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.