RumbleOn, Inc. (NASDAQ:RMBL) Short Interest Update

by · The Markets Daily

RumbleOn, Inc. (NASDAQ:RMBL – Get Free Report) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 1,180,000 shares, a drop of 21.9% from the September 15th total of 1,510,000 shares. Based on an average trading volume of 164,900 shares, the days-to-cover ratio is currently 7.2 days.

RumbleOn Stock Performance

Shares of RumbleOn stock traded up $0.04 on Monday, reaching $5.18. 70,607 shares of the company traded hands, compared to its average volume of 169,139. The company has a 50 day moving average of $4.31 and a 200 day moving average of $4.81. 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 52 week low of $3.13 and a 52 week high of $8.84. The firm has a market capitalization of $182.63 million, a PE ratio of -0.52 and a beta of 2.09.

RumbleOn (NASDAQ:RMBL – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). The firm had revenue of $336.80 million for the quarter, compared to the consensus estimate of $386.05 million. RumbleOn had a negative net margin of 15.15% and a negative return on equity of 98.94%. During the same period last year, the company posted $0.02 earnings per share. Equities analysts forecast that RumbleOn will post -0.55 earnings per share for the current year.

Analyst Ratings Changes

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

Get Our Latest Research Report on RumbleOn

Institutional Investors Weigh In On RumbleOn

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cannon Global Investment Management LLC bought a new position in RumbleOn during the first quarter worth about $65,000. Virtu Financial LLC purchased a new stake in shares of RumbleOn during the 1st quarter valued at approximately $90,000. Rhumbline Advisers boosted its holdings in RumbleOn by 3,910.5% in the 2nd quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after buying an additional 19,279 shares during the period. Dimensional Fund Advisors LP grew its stake in RumbleOn by 35.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock valued at $120,000 after buying an additional 7,704 shares in the last quarter. Finally, Magnus Financial Group LLC purchased a new position in RumbleOn in the 2nd quarter valued at approximately $127,000. 66.14% of the stock is currently owned by institutional investors.

About RumbleOn

(Get Free Report)

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.

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