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

RumbleOn (NASDAQ:RMBL) had its target price reduced by equities researchers at Robert W. Baird from $8.00 to $5.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 39.28% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. DA Davidson reissued a “neutral” rating and set a $5.00 target price (down previously from $7.50) on shares of RumbleOn in a research report on Tuesday, January 14th. B. Riley lowered shares of RumbleOn from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a research note on Friday, November 29th.

RumbleOn Trading Down 5.5 %

RMBL opened at $3.59 on Wednesday. The stock has a 50-day moving average of $4.38 and a 200 day moving average of $4.93. The company has a current ratio of 1.12, a quick ratio of 0.29 and a debt-to-equity ratio of 2.52. RumbleOn has a 12 month low of $3.13 and a 12 month high of $7.53. The firm has a market cap of $126.98 million, a P/E ratio of -0.43 and a beta of 2.17.

Institutional Investors Weigh In On RumbleOn

Several hedge funds and other institutional investors have recently modified their holdings of the business. PharVision Advisers LLC purchased a new position in RumbleOn during the 4th quarter valued at $114,000. Deutsche Bank AG lifted its position in shares of RumbleOn by 260.3% during the fourth quarter. Deutsche Bank AG now owns 22,545 shares of the company’s stock worth $122,000 after purchasing an additional 16,288 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of RumbleOn by 39.3% during the fourth quarter. Bank of America Corp DE now owns 26,155 shares of the company’s stock valued at $142,000 after purchasing an additional 7,383 shares during the period. Northern Trust Corp grew its holdings in shares of RumbleOn by 8.4% in the fourth quarter. Northern Trust Corp now owns 146,387 shares of the company’s stock worth $795,000 after purchasing an additional 11,395 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in RumbleOn in the 4th quarter worth about $55,000. 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.