RumbleOn, Inc. (NASDAQ:RMBL – Get Free Report) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 1,560,000 shares, a growth 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 days-to-cover ratio is presently 6.6 days.
Institutional Trading of RumbleOn
A number of institutional investors have recently made changes to their positions in RMBL. Cannon Global Investment Management LLC acquired a new position in RumbleOn during the first quarter worth $65,000. Empowered Funds LLC boosted its stake 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 during the last quarter. Virtu Financial LLC acquired a new position in RumbleOn during the first quarter worth $90,000. Finally, Bank of New York Mellon Corp acquired a new position in RumbleOn during the second quarter worth $182,000. 66.14% of the stock is owned by institutional investors and hedge funds.
RumbleOn Price Performance
Shares of NASDAQ:RMBL traded up $0.09 during trading on Friday, reaching $4.29. The stock had a trading volume of 64,754 shares, compared to its average volume of 450,470. 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 has a fifty day moving average price of $4.83 and a 200-day moving average price of $5.84. The stock has a market cap of $151.27 million, a PE ratio of -0.43 and a beta of 2.10. RumbleOn has a 1-year low of $3.32 and a 1-year high of $12.03.
Analyst Ratings Changes
Separately, Wedbush restated an “outperform” rating and issued a $7.00 price objective on shares of RumbleOn in a research report on Thursday, May 9th.
Read Our Latest Stock Report on RMBL
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.
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