RumbleON (OTCMKTS:RMBL) Shares Up 18.3%
RumbleON, Inc. (OTCMKTS:RMBL) shares shot up 18.3% during mid-day trading on Thursday . The stock traded as high as $1.99 and last traded at $1.81, 119,338 shares changed hands during trading. An increase of 37% from the average session volume of 86,917 shares. The stock had previously closed at $1.53.
Several research firms recently issued reports on RMBL. Zacks Investment Research upgraded RumbleON from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. JMP Securities dropped their price objective on RumbleON to $6.00 and set an “outperform” rating for the company in a report on Thursday. Finally, DA Davidson assumed coverage on RumbleON in a report on Tuesday, September 24th. They issued a “buy” rating and a $4.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $7.13.
The firm has a fifty day simple moving average of $2.74 and a two-hundred day simple moving average of $3.84.
In other RumbleON news, Director Denmar John Dixon acquired 47,500 shares of the company’s stock in a transaction on Monday, August 19th. The stock was acquired at an average price of $3.76 per share, for a total transaction of $178,600.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Several institutional investors and hedge funds have recently added to or reduced their stakes in RMBL. Delta Investment Management LLC bought a new position in RumbleON during the 2nd quarter valued at approximately $89,000. JPMorgan Chase & Co. bought a new position in RumbleON during the 2nd quarter valued at approximately $101,000. Trellus Management Company LLC increased its position in RumbleON by 34.6% during the 2nd quarter. Trellus Management Company LLC now owns 80,000 shares of the company’s stock valued at $358,000 after buying an additional 20,550 shares in the last quarter. Potrero Capital Research LLC bought a new position in RumbleON during the 2nd quarter valued at approximately $426,000. Finally, United Services Automobile Association bought a new position in RumbleON during the 2nd quarter valued at approximately $437,000.
RumbleON Company Profile (OTCMKTS:RMBL)
RumbleON, Inc (RumbleON), formerly Smart Server Inc, is a development-stage company. The Company focuses on creating an e-commerce platform facilitating the ability of both consumers and dealers to Buy-Sell-Trade-Finance pre-owned recreation vehicles (RV). Serving both consumers and dealers, RumbleON makes such consumers or dealers a cash offer for the purchase of their vehicle.
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