RumbleON (NASDAQ:RMBL) Issues Earnings Results

RumbleON (NASDAQ:RMBLGet Rating) announced its earnings results on Tuesday. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.12, MarketWatch Earnings reports. RumbleON had a negative return on equity of 9.55% and a negative net margin of 1.04%. During the same period last year, the company posted ($1.54) EPS. RumbleON updated its FY 2022 guidance to EPS.

Shares of RumbleON stock traded down $1.23 on Wednesday, reaching $15.77. The company’s stock had a trading volume of 8,280 shares, compared to its average volume of 188,912. The company has a market capitalization of $252.02 million, a price-to-earnings ratio of -3.39 and a beta of 2.81. The firm’s fifty day simple moving average is $27.55 and its two-hundred day simple moving average is $34.04. RumbleON has a 52 week low of $16.32 and a 52 week high of $48.45. The company has a quick ratio of 0.55, a current ratio of 1.68 and a debt-to-equity ratio of 0.66.

A number of research analysts recently weighed in on RMBL shares. Wedbush reduced their price objective on RumbleON from $40.00 to $30.00 in a research report on Wednesday. B. Riley reduced their price objective on RumbleON from $70.00 to $53.00 in a research report on Wednesday. DA Davidson reduced their price objective on RumbleON from $41.00 to $31.00 in a research report on Wednesday. Robert W. Baird raised their price objective on RumbleON to $30.00 in a research report on Wednesday. Finally, Zacks Investment Research raised RumbleON from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, RumbleON presently has a consensus rating of “Buy” and an average target price of $36.00.

Several institutional investors have recently bought and sold shares of RMBL. Morgan Stanley increased its holdings in shares of RumbleON by 1,059.7% in the 3rd quarter. Morgan Stanley now owns 106,557 shares of the company’s stock worth $4,153,000 after purchasing an additional 97,369 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of RumbleON by 239.1% in the 4th quarter. Geode Capital Management LLC now owns 86,850 shares of the company’s stock worth $3,606,000 after purchasing an additional 61,236 shares in the last quarter. BlackRock Inc. increased its holdings in shares of RumbleON by 176.6% in the 4th quarter. BlackRock Inc. now owns 72,067 shares of the company’s stock worth $2,993,000 after purchasing an additional 46,008 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of RumbleON in the 4th quarter worth $1,506,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of RumbleON in the 3rd quarter worth $342,000. 45.75% of the stock is owned by institutional investors and hedge funds.

About RumbleON (Get Rating)

RumbleON, Inc operates an e-commerce platform that aggregates and distributes pre-owned vehicles to and from consumers and dealers in North America. It operates in three segments: Powersports, Automotive, and Vehicle Logistics and Transportation. The Powersports segment distributes motorcycles. The Automotive segment distributes cars and trucks.

Read More

Earnings History for RumbleON (NASDAQ:RMBL)

Receive News & Ratings for RumbleON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RumbleON and related companies with MarketBeat.com's FREE daily email newsletter.