Vroom (NASDAQ:VRM) Releases Quarterly Earnings Results

Vroom (NASDAQ:VRM) announced its earnings results on Tuesday. The company reported ($1.65) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $38.45 million during the quarter. Vroom had a negative net margin of 32.38% and a negative return on equity of 47.65%.

Vroom Price Performance

NASDAQ:VRM traded up $0.21 during midday trading on Tuesday, reaching $6.97. 12,414 shares of the company traded hands, compared to its average volume of 19,289. Vroom has a twelve month low of $6.28 and a twelve month high of $27.75. The firm has a market capitalization of $36.45 million, a price-to-earnings ratio of -0.63 and a beta of 1.36. The company has a fifty day moving average price of $8.97 and a 200 day moving average price of $11.40.

Analyst Ratings Changes

Separately, Weiss Ratings reissued 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, Vroom currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of VRM. 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. Silverback Asset Management LLC raised its stake in shares of Vroom by 2.9% during the first quarter. Silverback Asset Management LLC now owns 437,936 shares of the company’s stock valued at $5,829,000 after purchasing an additional 12,448 shares in the last quarter. Finally, Mudrick Capital Management L.P. lifted its holdings in Vroom by 0.4% in the second quarter. Mudrick Capital Management L.P. now owns 3,982,846 shares of the company’s stock worth $30,668,000 after purchasing an additional 15,595 shares during the period. 25.79% of the stock is owned by institutional investors and hedge funds.

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.