RumbleON, Inc. (NASDAQ:RMBL)’s share price traded up 6.1% on Thursday . The stock traded as high as $39.50 and last traded at $39.50. 515 shares were traded during mid-day trading, a decline of 99% from the average session volume of 69,885 shares. The stock had previously closed at $37.24.
Several research analysts have weighed in on the stock. Robert W. Baird assumed coverage on shares of RumbleON in a report on Thursday, September 2nd. They issued an “outperform” rating and a $42.00 price target on the stock. DA Davidson assumed coverage on shares of RumbleON in a report on Thursday. They issued a “buy” rating and a $47.00 price target on the stock. Wedbush started coverage on shares of RumbleON in a report on Tuesday, September 14th. They issued an “outperform” rating and a $55.00 price target on the stock. Finally, B. Riley restated a “buy” rating and set a $70.00 target price on shares of RumbleON in a research report on Thursday, October 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $54.29.
The stock’s 50-day simple moving average is $35.81 and its 200-day simple moving average is $37.64. The stock has a market cap of $581.64 million, a price-to-earnings ratio of -8.16 and a beta of 2.90. The company has a current ratio of 1.87, a quick ratio of 1.40 and a debt-to-equity ratio of 0.91.
In other news, Director Denmar John Dixon purchased 13,636 shares of RumbleON stock in a transaction that occurred on Tuesday, August 31st. The shares were acquired at an average price of $33.00 per share, for a total transaction of $449,988.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Adam Alexander acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 3rd. The stock was bought at an average cost of $36.84 per share, with a total value of $36,840.00. Following the purchase, the director now owns 15,977 shares in the company, valued at $588,592.68. The disclosure for this purchase can be found here. Company insiders own 15.65% of the company’s stock.
Large investors have recently modified their holdings of the stock. Morgan Stanley lifted its stake in RumbleON by 99.8% in the 1st quarter. Morgan Stanley now owns 2,398 shares of the company’s stock valued at $105,000 after purchasing an additional 1,198 shares during the last quarter. Potrero Capital Research LLC bought a new position in RumbleON in the 1st quarter valued at approximately $208,000. Millennium Management LLC bought a new position in RumbleON in the 2nd quarter valued at approximately $233,000. Northern Trust Corp bought a new position in shares of RumbleON during the second quarter valued at $259,000. Finally, Quadrature Capital Ltd bought a new position in shares of RumbleON during the first quarter valued at $280,000. 41.59% of the stock is owned by institutional investors and hedge funds.
RumbleON Company Profile (NASDAQ:RMBL)
RumbleOn, Inc engages in the provision of motor vehicle dealer and e-commerce platform. 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.
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