Vroom (NASDAQ:VRM) Sets New 52-Week Low at $23.21

Vroom, Inc. (NASDAQ:VRM)’s share price reached a new 52-week low on Monday . The stock traded as low as $23.21 and last traded at $23.24, with a volume of 110 shares. The stock had previously closed at $24.24.

Several research analysts have recently weighed in on VRM shares. Stifel Nicolaus lowered their price objective on shares of Vroom from $55.00 to $46.00 and set a “buy” rating on the stock in a research note on Thursday, August 12th. Zacks Investment Research lowered shares of Vroom from a “hold” rating to a “sell” rating in a research note on Tuesday, August 17th. Jefferies Financial Group boosted their price objective on shares of Vroom from $43.00 to $47.00 and gave the stock a “hold” rating in a research note on Wednesday, June 23rd. Finally, Piper Sandler lowered shares of Vroom from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $54.00 to $30.00 in a research note on Tuesday, August 17th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $52.27.

The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.51 and a current ratio of 3.29. The stock has a market cap of $3.16 billion, a P/E ratio of -12.72 and a beta of 1.92. The stock’s fifty day simple moving average is $31.31 and its 200-day simple moving average is $37.65.

Vroom (NASDAQ:VRM) last posted its quarterly earnings data on Wednesday, August 11th. The company reported ($0.48) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.48). The firm had revenue of $761.89 million during the quarter, compared to the consensus estimate of $651.96 million. Vroom had a negative net margin of 11.60% and a negative return on equity of 19.80%. As a group, equities research analysts forecast that Vroom, Inc. will post -2.52 earnings per share for the current year.

In other Vroom news, CEO Paul J. Hennessy sold 49,600 shares of the business’s stock in a transaction dated Friday, June 25th. The shares were sold at an average price of $44.11, for a total value of $2,187,856.00. Following the completion of the sale, the chief executive officer now owns 395,978 shares of the company’s stock, valued at approximately $17,466,589.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.40% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Vroom by 1.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 24,666 shares of the company’s stock worth $962,000 after acquiring an additional 410 shares during the period. Banque Cantonale Vaudoise lifted its holdings in shares of Vroom by 31.4% during the 1st quarter. Banque Cantonale Vaudoise now owns 2,228 shares of the company’s stock worth $87,000 after acquiring an additional 532 shares during the period. Utah Retirement Systems lifted its holdings in shares of Vroom by 11.3% during the 2nd quarter. Utah Retirement Systems now owns 5,900 shares of the company’s stock worth $247,000 after acquiring an additional 600 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Vroom by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,290 shares of the company’s stock worth $1,059,000 after acquiring an additional 624 shares during the period. Finally, State of Wisconsin Investment Board lifted its holdings in shares of Vroom by 5.2% during the 2nd quarter. State of Wisconsin Investment Board now owns 13,747 shares of the company’s stock worth $575,000 after acquiring an additional 684 shares during the period. 96.42% of the stock is owned by institutional investors.

Vroom Company Profile (NASDAQ:VRM)

Vroom, Inc operates an e-commerce platform for buying and selling of new and used cars in the United States. It also offers financing solutions. The company was formerly known as Auto America, Inc and changed its name to Vroom, Inc in July 2015. The company was incorporated in 2012 and is headquartered in New York, New York.

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