RumbleOn, Inc. (NASDAQ:RMBL) Short Interest Down 15.3% in December

RumbleOn, Inc. (NASDAQ:RMBL) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 1,050,000 shares, a drop of 15.3% from the November 30th total of 1,240,000 shares. Based on an average trading volume of 120,800 shares, the days-to-cover ratio is presently 8.7 days.

Institutional Investors Weigh In On RumbleOn

Several institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC raised its position in RumbleOn by 5.3% during the third quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock worth $317,000 after acquiring an additional 3,350 shares during the last quarter. Citigroup Inc. increased its stake in shares of RumbleOn by 46,928.8% during the 3rd quarter. Citigroup Inc. now owns 1,701,503 shares of the company’s stock worth $8,150,000 after purchasing an additional 1,697,885 shares in the last quarter. Rhumbline Advisers increased 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 purchasing an additional 19,279 shares in the last quarter. Magnus Financial Group LLC raised its position in shares of RumbleOn by 146.8% during the 3rd quarter. Magnus Financial Group LLC now owns 76,500 shares of the company’s stock worth $366,000 after purchasing an additional 45,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted 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. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

RumbleOn Price Performance

Shares of NASDAQ:RMBL opened at $5.48 on Monday. The firm has a market capitalization of $193.83 million, a price-to-earnings ratio of -0.65 and a beta of 2.23. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.12 and a quick ratio of 0.29. The business’s 50 day simple moving average is $5.73 and its 200-day simple moving average is $4.83. RumbleOn has a 12 month low of $3.13 and a 12 month high of $8.31.

RumbleOn (NASDAQ:RMBL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.22). The firm had revenue of $295.00 million for the quarter, compared to analyst estimates of $302.76 million. RumbleOn had a negative return on equity of 122.45% and a negative net margin of 15.25%. During the same period in the prior year, the firm posted ($0.71) earnings per share. As a group, equities analysts forecast that RumbleOn will post -0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, B. Riley cut shares of RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research note on Friday, November 29th.

About RumbleOn

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.