RumbleOn, Inc. (NASDAQ:RMBL) Short Interest Up 54.5% in July

RumbleOn, Inc. (NASDAQ:RMBL) was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 1,560,000 shares, an increase of 54.5% from the June 30th total of 1,010,000 shares. Based on an average daily trading volume, of 237,600 shares, the short-interest ratio is currently 6.6 days.

RumbleOn Price Performance

NASDAQ RMBL traded up $0.09 during mid-day trading on Friday, hitting $4.29. The stock had a trading volume of 64,754 shares, compared to its average volume of 450,470. RumbleOn has a 52-week low of $3.32 and a 52-week high of $12.03. The company has a market cap of $151.27 million, a price-to-earnings ratio of -0.43 and a beta of 2.10. The company has a 50 day simple moving average of $4.83 and a 200 day simple moving average of $5.84. The company has a quick ratio of 0.24, a current ratio of 1.10 and a debt-to-equity ratio of 2.22.

RumbleOn (NASDAQ:RMBL) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). RumbleOn had a negative net margin of 15.59% and a negative return on equity of 82.79%. The firm had revenue of $307.80 million during the quarter, compared to analysts’ expectations of $338.11 million. Equities analysts forecast that RumbleOn will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On RumbleOn

Hedge funds have recently bought and sold shares of the stock. Cannon Global Investment Management LLC purchased a new position in RumbleOn during the first quarter worth $65,000. Virtu Financial LLC purchased a new position in RumbleOn during the first quarter worth $90,000. Bank of New York Mellon Corp purchased a new position in RumbleOn during the second quarter worth $182,000. Finally, Empowered Funds LLC increased its position in RumbleOn by 8.1% during the first quarter. Empowered Funds LLC now owns 58,300 shares of the company’s stock worth $377,000 after buying an additional 4,375 shares in the last quarter. Hedge funds and other institutional investors own 66.14% of the company’s stock.

Analyst Ratings Changes

Separately, Wedbush reissued an “outperform” rating and set a $7.00 target price on shares of RumbleOn in a research note on Thursday, May 9th.

RumbleOn Company Profile

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.