RumbleON, Inc. (OTCMKTS:RMBL) has received a consensus rating of “Buy” from the six analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $6.10.
A number of brokerages recently commented on RMBL. JMP Securities lowered their target price on shares of RumbleON to $6.00 and set an “outperform” rating for the company in a research note on Thursday, November 14th. Zacks Investment Research upgraded RumbleON from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a research note on Tuesday, November 19th. Finally, Maxim Group reaffirmed a “hold” rating on shares of RumbleON in a report on Friday, November 15th.
RMBL traded down $0.02 during trading hours on Tuesday, hitting $0.60. 389,221 shares of the company’s stock were exchanged, compared to its average volume of 685,946. RumbleON has a 12-month low of $0.55 and a 12-month high of $6.80. The firm has a 50 day moving average of $0.78 and a 200 day moving average of $2.55.
In other news, CEO Marshall Chesrown acquired 66,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were purchased at an average cost of $0.82 per share, for a total transaction of $54,120.00. Following the transaction, the chief executive officer now directly owns 1,825,000 shares in the company, valued at approximately $1,496,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven R. Berrard acquired 200,000 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was purchased at an average price of $0.57 per share, for a total transaction of $114,000.00. Following the completion of the transaction, the chief financial officer now owns 2,170,000 shares in the company, valued at $1,236,900. The disclosure for this purchase can be found here. Insiders have bought 316,000 shares of company stock valued at $206,620 in the last quarter.
A number of large investors have recently made changes to their positions in RMBL. JPMorgan Chase & Co. acquired a new stake in RumbleON in the second quarter valued at $101,000. United Services Automobile Association purchased a new position in shares of RumbleON in the 2nd quarter valued at about $437,000. BlackRock Inc. increased its holdings in shares of RumbleON by 23.5% in the 2nd quarter. BlackRock Inc. now owns 231,749 shares of the company’s stock valued at $1,039,000 after purchasing an additional 44,082 shares in the last quarter. Silverback Asset Management LLC lifted its stake in shares of RumbleON by 926.6% in the third quarter. Silverback Asset Management LLC now owns 278,210 shares of the company’s stock valued at $804,000 after purchasing an additional 251,110 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of RumbleON by 7.8% in the second quarter. Vanguard Group Inc. now owns 469,409 shares of the company’s stock valued at $2,103,000 after purchasing an additional 33,856 shares during the period.
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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