RumbleON (RMBL) Rating Increased to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of RumbleON (OTCMKTS:RMBL) from a sell rating to a hold rating in a research report sent 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. “

Several other research analysts have also weighed in on the stock. National Securities reiterated a buy rating and set a $9.50 price objective on shares of RumbleON in a report on Wednesday. Maxim Group reiterated a hold rating on shares of RumbleON in a report on Friday, March 29th. Finally, B. Riley began coverage on shares of RumbleON in a report on Friday, March 15th. They set a buy rating and a $9.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $10.30.

OTCMKTS:RMBL traded down $0.15 on Wednesday, reaching $5.00. The stock had a trading volume of 21,890 shares, compared to its average volume of 143,208. RumbleON has a 12-month low of $4.38 and a 12-month high of $10.98.

RumbleON (OTCMKTS:RMBL) last released its earnings results on Monday, May 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.16). The business had revenue of $223.18 million for the quarter, compared to the consensus estimate of $208.67 million.

In related news, Director Denmar John Dixon acquired 50,415 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were acquired at an average cost of $4.77 per share, for a total transaction of $240,479.55. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC purchased a new position in RumbleON in the fourth quarter valued at approximately $60,000. Envestnet Asset Management Inc. purchased a new position in RumbleON in the first quarter valued at approximately $82,000. Northern Trust Corp acquired a new stake in RumbleON in the first quarter valued at approximately $90,000. Carlson Capital Management acquired a new stake in RumbleON in the first quarter valued at approximately $90,000. Finally, Pathlight Investors LLC acquired a new stake in RumbleON in the fourth quarter valued at approximately $158,000.

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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