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

RumbleOn (NASDAQ:RMBL) had its target price decreased by Robert W. Baird from $8.00 to $5.00 in a report released on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

RMBL has been the subject of a number of other research reports. 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. DA Davidson reaffirmed a “neutral” rating and issued a $5.00 price objective (down previously from $7.50) on shares of RumbleOn in a research note on Tuesday, January 14th.

RumbleOn Trading Up 5.8 %

RumbleOn stock opened at $3.80 on Wednesday. The company has a 50 day moving average price of $4.34 and a 200 day moving average price of $4.92. RumbleOn has a 52 week low of $3.13 and a 52 week high of $7.53. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.29 and a current ratio of 1.12. The firm has a market capitalization of $134.41 million, a price-to-earnings ratio of -0.45 and a beta of 2.17.

Institutional Investors Weigh In On RumbleOn

A number of institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its stake in shares of RumbleOn by 36.4% during the 4th quarter. Wells Fargo & Company MN now owns 10,084 shares of the company’s stock valued at $55,000 after buying an additional 2,689 shares during the period. State Street Corp boosted its stake in shares of RumbleOn by 1.7% during the 3rd quarter. State Street Corp now owns 181,190 shares of the company’s stock valued at $868,000 after buying an additional 3,061 shares during the period. Empowered Funds LLC raised its holdings in shares of RumbleOn by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock valued at $317,000 after purchasing an additional 3,350 shares in the last quarter. Barclays PLC raised its holdings in shares of RumbleOn by 21.2% during the 4th quarter. Barclays PLC now owns 25,787 shares of the company’s stock valued at $140,000 after purchasing an additional 4,509 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of RumbleOn by 18.8% during the 4th quarter. Bank of New York Mellon Corp now owns 38,380 shares of the company’s stock valued at $208,000 after purchasing an additional 6,084 shares in the last quarter. Institutional investors and hedge funds own 66.14% of the company’s stock.

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.