Vroom (NASDAQ:VRM) Issues Earnings Results

Vroom (NASDAQ:VRM) issued its earnings results on Tuesday. The company reported ($1.65) earnings per share (EPS) for the quarter, FiscalAI reports. Vroom had a negative net margin of 22.85% and a negative return on equity of 33.80%. The company had revenue of $38.45 million during the quarter.

Vroom Trading Down 3.5%

Shares of VRM stock traded down $0.24 during mid-day trading on Thursday, reaching $6.75. The stock had a trading volume of 14,402 shares, compared to its average volume of 7,706. Vroom has a 12-month low of $6.28 and a 12-month high of $27.75. The business has a 50-day simple moving average of $8.87 and a 200 day simple moving average of $11.27. The company has a market cap of $35.28 million, a P/E ratio of -0.85 and a beta of 1.36.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Vroom in a report on Wednesday, August 26th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Investors Weigh In On Vroom

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its holdings in Vroom by 30.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,793 shares of the company’s stock worth $67,000 after buying an additional 1,591 shares in the last quarter. Mudrick Capital Management L.P. boosted its position in Vroom by 0.4% during the 2nd quarter. Mudrick Capital Management L.P. now owns 3,982,846 shares of the company’s stock worth $30,668,000 after acquiring an additional 15,595 shares during the period. Finally, Silverback Asset Management LLC boosted its position in Vroom by 2.9% during the 1st quarter. Silverback Asset Management LLC now owns 437,936 shares of the company’s stock worth $5,829,000 after acquiring an additional 12,448 shares during the period. 25.79% of the stock is currently owned by institutional investors.

About Vroom

Vroom, Inc. (NASDAQ: VRM) was an online automotive retailer that enabled consumers to buy and sell used vehicles through its digital platform. The company offered vehicle selection, pricing, financing, trade-ins, vehicle delivery and related transaction services, aiming to provide a primarily online alternative to traditional used-car dealerships. Founded in 2013, Vroom expanded its operations across the United States and supported its retail business with vehicle reconditioning, logistics and e-commerce technology.