RumbleOn (NASDAQ:RMBL) Given New $7.00 Price Target at B. Riley

RumbleOn (NASDAQ:RMBL) had its price target decreased by B. Riley from $9.00 to $7.00 in a report published on Wednesday,Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for RumbleOn’s Q4 2024 earnings at ($0.22) EPS, FY2024 earnings at ($0.85) EPS, Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.01) EPS, FY2025 earnings at $0.14 EPS, Q1 2026 earnings at $0.07 EPS, Q2 2026 earnings at $0.34 EPS, Q3 2026 earnings at $0.03 EPS and FY2026 earnings at $0.48 EPS.

Separately, Wedbush lowered their price objective on RumbleOn from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th.

RumbleOn Stock Performance

Shares of RumbleOn stock opened at $5.49 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.27 and a debt-to-equity ratio of 2.23. The firm has a market capitalization of $193.92 million, a P/E ratio of -0.65 and a beta of 2.08. The business has a fifty day simple moving average of $4.91 and a two-hundred day simple moving average of $4.77. RumbleOn has a 12 month low of $3.13 and a 12 month high of $8.84.

Hedge Funds Weigh In On RumbleOn

Large investors have recently modified their holdings of the stock. Empowered Funds LLC raised its position in shares of RumbleOn by 8.1% in the 1st quarter. Empowered Funds LLC now owns 58,300 shares of the company’s stock worth $377,000 after purchasing an additional 4,375 shares during the last quarter. Rhumbline Advisers raised its position in shares of RumbleOn by 3,910.5% in the 2nd quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after purchasing an additional 19,279 shares during the last quarter. Magnus Financial Group LLC raised its position in shares of RumbleOn by 146.8% in the 3rd quarter. Magnus Financial Group LLC now owns 76,500 shares of the company’s stock worth $366,000 after purchasing an additional 45,500 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of RumbleOn in the 1st quarter worth about $90,000. Finally, Dimensional Fund Advisors LP raised its position in shares of RumbleOn by 35.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock worth $120,000 after purchasing an additional 7,704 shares during the last quarter. Hedge funds and other institutional investors 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.