Vroom, Inc. (NASDAQ:VRM – Get Free Report) traded down 5.4% on Monday. The company traded as low as $8.11 and last traded at $8.45. Approximately 25,045 shares changed hands during trading, an increase of 266% from the average session volume of 6,848 shares. The stock had previously closed at $8.93.
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, the company presently has a consensus rating of “Sell”.
Check Out Our Latest Report on Vroom
Vroom Trading Down 0.8%
The firm’s fifty day simple moving average is $9.62 and its two-hundred day simple moving average is $10.36. The company has a market capitalization of $42.73 million, a price-to-earnings ratio of -0.73 and a beta of 1.27.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Vroom stock. Mudrick Capital Management L.P. raised its holdings in Vroom, Inc. (NASDAQ:VRM – Free Report) by 0.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,982,846 shares of the company’s stock after purchasing an additional 15,595 shares during the quarter. Vroom accounts for 6.8% of Mudrick Capital Management L.P.’s holdings, making the stock its 3rd largest holding. Mudrick Capital Management L.P. owned 76.15% of Vroom worth $30,668,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 25.79% of the company’s stock.
About Vroom
Vroom, Inc was an online automotive retailer that operated a digital platform for buying and selling used vehicles. The company enabled customers to browse inventory, obtain financing, complete purchases and arrange vehicle delivery online, offering an alternative to traditional dealership-based transactions.
Founded in 2013 and headquartered in New York, Vroom expanded its operations across the United States. Its business also included automotive finance through United Auto Credit Corporation and automotive data and analytics services through CarStory, which provided technology and insights to dealers and other industry participants.
In January 2024, Vroom announced that it was suspending its ecommerce operations and discontinuing its used-vehicle dealership activities.
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