RumbleON (RMBL) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of RumbleON (OTCMKTS:RMBL) from a hold rating to a sell rating in a research note issued to investors 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 lowered shares of RumbleON from a buy rating to a hold rating in a report on Thursday.

RumbleON stock remained flat at $$6.71 during mid-day trading on Thursday. 303,216 shares of the company’s stock were exchanged, compared to its average volume of 90,718. RumbleON has a 12 month low of $3.53 and a 12 month high of $10.98.

RumbleON (OTCMKTS:RMBL) last released its earnings results on Friday, October 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.23). The business had revenue of $19.26 million for the quarter, compared to the consensus estimate of $23.64 million. Equities analysts predict that RumbleON will post -0.69 earnings per share for the current year.

In other news, Director Joseph E. Reece acquired 20,000 shares of RumbleON stock in a transaction dated Tuesday, October 30th. The shares were acquired at an average cost of $5.50 per share, for a total transaction of $110,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

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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