RumbleOn Sees Unusually High Options Volume (NASDAQ:RMBL)

RumbleOn, Inc. (NASDAQ:RMBL) was the target of unusually large options trading activity on Wednesday. Stock investors purchased 4,094 put options on the company. This represents an increase of approximately 2,239% compared to the typical volume of 175 put options.

RumbleOn Stock Performance

Shares of RMBL traded down $0.21 during midday trading on Wednesday, hitting $3.39. 207,928 shares of the stock traded hands, compared to its average volume of 190,791. RumbleOn has a 1-year low of $3.32 and a 1-year high of $10.36. The firm has a market capitalization of $119.53 million, a PE ratio of -0.40 and a beta of 2.10. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.24 and a current ratio of 1.10. The business’s 50 day moving average price is $4.55 and its two-hundred day moving average price is $5.70.

RumbleOn (NASDAQ:RMBL) last posted 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). The company had revenue of $307.80 million during the quarter, compared to analyst estimates of $338.11 million. RumbleOn had a negative return on equity of 82.79% and a negative net margin of 15.59%. Equities research analysts predict that RumbleOn will post -0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wedbush reaffirmed an “outperform” rating and issued a $7.00 price objective on shares of RumbleOn in a report on Thursday, May 9th.

Institutional Investors Weigh In On RumbleOn

Several institutional investors have recently bought and sold shares of RMBL. Cannon Global Investment Management LLC acquired a new stake in RumbleOn in the first quarter worth about $65,000. Rhumbline Advisers raised its position in RumbleOn by 3,910.5% in the second quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after acquiring an additional 19,279 shares in the last quarter. Virtu Financial LLC bought a new stake in RumbleOn in the first quarter worth about $90,000. Magnus Financial Group LLC bought a new stake in RumbleOn in the second quarter worth about $127,000. Finally, Bank of New York Mellon Corp bought a new stake in RumbleOn in the second quarter worth about $182,000. Institutional investors and hedge funds own 66.14% of the company’s stock.

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.