Robert W. Baird Cuts RumbleOn (NASDAQ:RMBL) Price Target to $5.00

RumbleOn (NASDAQ:RMBL) had its target price trimmed by Robert W. Baird from $8.00 to $5.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

RMBL has been the topic of a number of other research reports. B. Riley downgraded RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a research report on Friday, November 29th. DA Davidson reaffirmed a “neutral” rating and issued a $5.00 price target (down previously from $7.50) on shares of RumbleOn in a report on Tuesday, January 14th.

RumbleOn Price Performance

RMBL stock opened at $3.54 on Wednesday. The firm has a 50 day moving average of $4.28 and a 200-day moving average of $4.90. The firm has a market capitalization of $125.21 million, a P/E ratio of -0.42 and a beta of 2.17. RumbleOn has a 12 month low of $3.13 and a 12 month high of $7.06. The company has a current ratio of 1.12, a quick ratio of 0.29 and a debt-to-equity ratio of 2.52.

Hedge Funds Weigh In On RumbleOn

A number of hedge funds and other institutional investors have recently modified their holdings of RMBL. Wells Fargo & Company MN lifted its position in RumbleOn by 36.4% in the 4th quarter. Wells Fargo & Company MN now owns 10,084 shares of the company’s stock worth $55,000 after buying an additional 2,689 shares during the last quarter. State Street Corp boosted its stake in shares of RumbleOn by 1.7% in the 3rd quarter. State Street Corp now owns 181,190 shares of the company’s stock valued at $868,000 after purchasing an additional 3,061 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of RumbleOn by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock valued at $317,000 after purchasing an additional 3,350 shares during the last quarter. Barclays PLC raised its position in RumbleOn by 21.2% in the 4th quarter. Barclays PLC now owns 25,787 shares of the company’s stock worth $140,000 after purchasing an additional 4,509 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in RumbleOn by 18.8% in the fourth quarter. Bank of New York Mellon Corp now owns 38,380 shares of the company’s stock worth $208,000 after purchasing an additional 6,084 shares during the last quarter. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

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.