RumbleON (RMBL) Cut to “Sell” at Zacks Investment Research

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RumbleON (OTCMKTS:RMBL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

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. “

Separately, Maxim Group increased their price target on shares of RumbleON from $8.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 10th.

RumbleON stock traded up $0.09 during trading hours on Thursday, hitting $5.71. 67,688 shares of the stock were exchanged, compared to its average volume of 90,000. RumbleON has a 12 month low of $3.53 and a 12 month high of $10.98.

RumbleON (OTCMKTS:RMBL) last issued its quarterly earnings data on Friday, October 26th. The company reported ($0.46) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.23). The business had revenue of $19.26 million for the quarter, compared to analysts’ expectations of $23.64 million. As a group, equities analysts anticipate that RumbleON will post -0.69 EPS for the current year.

In related news, Director Joseph E. Reece purchased 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The shares were acquired at an average cost of $5.50 per share, with a total value of $110,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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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