Vroom (NASDAQ:VRM) Announces Earnings Results

Vroom (NASDAQ:VRM) announced its quarterly earnings data on Tuesday. The company reported ($1.65) EPS for the quarter, FiscalAI reports. The firm had revenue of $38.45 million during the quarter. Vroom had a negative net margin of 32.38% and a negative return on equity of 47.65%.

Vroom Stock Up 3.1%

VRM stock opened at $6.97 on Wednesday. Vroom has a twelve month low of $6.28 and a twelve month high of $27.75. The company has a market cap of $36.48 million, a P/E ratio of -0.63 and a beta of 1.36. The business’s fifty day moving average is $8.92 and its 200-day moving average is $11.33.

Institutional Investors Weigh In On Vroom

A number of institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its stake in Vroom by 30.6% in the third quarter. Russell Investments Group Ltd. now owns 6,793 shares of the company’s stock valued at $67,000 after buying an additional 1,591 shares during the period. Silverback Asset Management LLC boosted its holdings in Vroom by 2.9% during the first quarter. Silverback Asset Management LLC now owns 437,936 shares of the company’s stock worth $5,829,000 after buying an additional 12,448 shares during the last quarter. Finally, Mudrick Capital Management L.P. boosted its holdings in Vroom by 0.4% during the second quarter. Mudrick Capital Management L.P. now owns 3,982,846 shares of the company’s stock worth $30,668,000 after buying an additional 15,595 shares during the last quarter. 25.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Vroom in a research note on Wednesday, August 26th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Vroom Company Profile

Vroom, Inc. (NASDAQ: VRM) was an online automotive retailer that enabled consumers to buy and sell used vehicles through its digital platform. The company offered vehicle selection, pricing, financing, trade-ins, vehicle delivery and related transaction services, aiming to provide a primarily online alternative to traditional used-car dealerships. Founded in 2013, Vroom expanded its operations across the United States and supported its retail business with vehicle reconditioning, logistics and e-commerce technology.