RumbleON, Inc. (OTCMKTS:RMBL) Given Consensus Rating of “Buy” by Brokerages

RumbleON, Inc. (OTCMKTS:RMBL) has been given an average recommendation of “Buy” by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $6.10.

Several brokerages have recently weighed in on RMBL. Zacks Investment Research upgraded shares of 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. JMP Securities dropped their price target on shares of RumbleON to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, November 14th. Finally, Maxim Group restated a “hold” rating on shares of RumbleON in a research report on Friday, November 15th.

In related news, CEO Marshall Chesrown purchased 50,000 shares of RumbleON stock in a transaction on Thursday, December 19th. The shares were bought at an average cost of $0.77 per share, for a total transaction of $38,500.00. Following the acquisition, the chief executive officer now owns 1,875,000 shares in the company, valued at approximately $1,443,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven R. Berrard purchased 200,000 shares of RumbleON stock in a transaction on Tuesday, January 14th. The stock was bought at an average price of $0.57 per share, for a total transaction of $114,000.00. Following the completion of the acquisition, the chief financial officer now owns 2,170,000 shares in the company, valued at approximately $1,236,900. The disclosure for this purchase can be found here. Insiders have bought a total of 316,000 shares of company stock worth $206,620 over the last 90 days.

Hedge funds and other institutional investors have recently made changes to their positions in the business. 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 worth $1,039,000 after buying an additional 44,082 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of RumbleON by 7.8% in the 2nd quarter. Vanguard Group Inc. now owns 469,409 shares of the company’s stock worth $2,103,000 after buying an additional 33,856 shares during the last quarter. Granahan Investment Management Inc. MA increased its holdings in shares of RumbleON by 1.2% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 2,074,861 shares of the company’s stock worth $5,997,000 after buying an additional 23,689 shares during the last quarter. Finally, Silverback Asset Management LLC increased its holdings in shares of RumbleON by 926.6% in the 3rd quarter. Silverback Asset Management LLC now owns 278,210 shares of the company’s stock worth $804,000 after buying an additional 251,110 shares during the last quarter.

Shares of RMBL stock opened at $0.51 on Friday. RumbleON has a 12-month low of $0.47 and a 12-month high of $6.30. The firm’s 50 day moving average is $0.65 and its 200 day moving average is $2.14.

RumbleON (OTCMKTS:RMBL) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.04). The firm had revenue of $220.32 million for the quarter, compared to analyst estimates of $234.76 million.

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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