Robert W. Baird Reiterates Neutral Rating for RumbleOn (NASDAQ:RMBL)

Robert W. Baird reiterated their neutral rating on shares of RumbleOn (NASDAQ:RMBL) in a research report sent to investors on Friday morning, Marketbeat.com reports. They currently have a $3.00 target price on the stock, down from their previous target price of $5.00.

Other analysts have also recently issued reports about the stock. Wedbush reduced their target price on shares of RumbleOn from $5.50 to $5.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. DA Davidson cut their price target on shares of RumbleOn from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th.

RumbleOn Stock Down 5.4 %

RMBL opened at $2.27 on Friday. The company has a market capitalization of $85.78 million, a PE ratio of -0.27 and a beta of 2.15. The business has a 50-day moving average of $3.82 and a 200-day moving average of $4.79. RumbleOn has a fifty-two week low of $2.16 and a fifty-two week high of $7.06. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.12 and a quick ratio of 0.29.

Institutional Investors Weigh In On RumbleOn

Several institutional investors and hedge funds have recently added to or reduced their stakes in RMBL. Boothbay Fund Management LLC bought a new position in shares of RumbleOn in the fourth quarter valued at approximately $55,000. Wells Fargo & Company MN lifted its position in RumbleOn by 36.4% during the 4th quarter. Wells Fargo & Company MN now owns 10,084 shares of the company’s stock worth $55,000 after acquiring an additional 2,689 shares during the last quarter. SG Americas Securities LLC bought a new stake in RumbleOn during the fourth quarter valued at about $58,000. PharVision Advisers LLC acquired a new stake in shares of RumbleOn in the fourth quarter valued at about $114,000. Finally, Barclays PLC increased its stake in shares of RumbleOn by 278.7% in the third quarter. Barclays PLC now owns 21,278 shares of the company’s stock worth $102,000 after purchasing an additional 15,660 shares during the period. 66.14% of the stock is currently owned by institutional investors and hedge funds.

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.