RumbleON (OTCMKTS:RMBL) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of RumbleON (OTCMKTS:RMBL) from a sell rating to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “RumbleON, Inc. provides internet based services. The Company operates an e-commerce platform for consumers and dealers to buy, sell, trade and finance pre-owned recreation vehicles. It primarily focuses on pre-owned Harley Davidson motorcycles. RumbleON, Inc. is based in Charlotte, North Carolina. “

Other analysts have also recently issued research reports about the company. JMP Securities assumed coverage on RumbleON in a research report on Tuesday, July 30th. They issued an outperform rating and a $10.00 price target for the company. DA Davidson assumed coverage on RumbleON in a research report on Tuesday, September 24th. They issued a buy rating and a $4.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $9.10.

RMBL stock opened at $3.03 on Wednesday. RumbleON has a fifty-two week low of $2.25 and a fifty-two week high of $8.73. The business’s 50-day moving average is $2.90 and its two-hundred day moving average is $4.12.

RumbleON (OTCMKTS:RMBL) last posted its earnings results on Monday, August 12th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.15). The business had revenue of $270.18 million during the quarter, compared to the consensus estimate of $233.97 million.

In related news, Director Denmar John Dixon acquired 47,500 shares of the stock in a transaction dated Monday, August 19th. The stock was acquired at an average cost of $3.76 per share, with a total value of $178,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Large investors have recently bought and sold shares of the company. United Services Automobile Association bought a new stake in shares of RumbleON during the 2nd quarter worth approximately $437,000. Potrero Capital Research LLC bought a new stake in shares of RumbleON during the 2nd quarter worth approximately $426,000. Vanguard Group Inc. lifted its stake in shares of RumbleON by 7.8% during the 2nd quarter. Vanguard Group Inc. now owns 469,409 shares of the company’s stock worth $2,103,000 after acquiring an additional 33,856 shares during the last quarter. BlackRock Inc. lifted its stake in shares of RumbleON by 23.5% during the 2nd quarter. BlackRock Inc. now owns 231,749 shares of the company’s stock worth $1,039,000 after acquiring an additional 44,082 shares during the last quarter. Finally, Ardsley Advisory Partners LP lifted its stake in shares of RumbleON by 29.0% during the 2nd quarter. Ardsley Advisory Partners LP now owns 437,007 shares of the company’s stock worth $1,958,000 after acquiring an additional 98,300 shares during the last quarter.

About RumbleON

RumbleON, Inc (RumbleON), formerly Smart Server Inc, is a development-stage company. The Company focuses on creating an e-commerce platform facilitating the ability of both consumers and dealers to Buy-Sell-Trade-Finance pre-owned recreation vehicles (RV). Serving both consumers and dealers, RumbleON makes such consumers or dealers a cash offer for the purchase of their vehicle.

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Analyst Recommendations for RumbleON (OTCMKTS:RMBL)

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