RideNow Group, Inc. (NASDAQ:RDNW) Receives Average Recommendation of “Hold” from Brokerages

RideNow Group, Inc. (NASDAQ:RDNW) has earned a consensus rating of “Hold” from the six analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $4.75.

Several analysts have recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of RideNow Group in a research report on Wednesday, October 8th. DA Davidson set a $4.00 price target on RideNow Group and gave the stock a “neutral” rating in a research note on Wednesday, November 5th.

RideNow Group Stock Performance

Shares of NASDAQ RDNW traded up $0.02 during trading on Friday, hitting $5.33. The company had a trading volume of 41,447 shares, compared to its average volume of 58,404. RideNow Group has a 12 month low of $1.46 and a 12 month high of $7.06. The company has a debt-to-equity ratio of 8.00, a quick ratio of 0.29 and a current ratio of 1.12. The firm has a market capitalization of $202.65 million, a P/E ratio of -1.90 and a beta of 1.09. The stock has a 50 day simple moving average of $4.16 and a 200 day simple moving average of $3.05.

RideNow Group (NASDAQ:RDNW) last released its earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. RideNow Group had a negative net margin of 9.35% and a negative return on equity of 223.85%. The company had revenue of $281.00 million during the quarter, compared to analyst estimates of $270.24 million. As a group, analysts anticipate that RideNow Group will post -0.89 earnings per share for the current year.

Institutional Trading of RideNow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd purchased a new position in RideNow Group in the 2nd quarter worth approximately $52,000. Jane Street Group LLC bought a new stake in shares of RideNow Group during the second quarter valued at approximately $71,000. Nuveen LLC purchased a new position in shares of RideNow Group in the first quarter worth $98,000. Y Intercept Hong Kong Ltd bought a new position in shares of RideNow Group during the second quarter worth $137,000. Finally, Magnus Financial Group LLC grew its stake in RideNow Group by 50.0% during the second quarter. Magnus Financial Group LLC now owns 60,000 shares of the company’s stock valued at $139,000 after acquiring an additional 20,000 shares in the last quarter. Institutional investors own 66.14% of the company’s stock.

About RideNow Group

RumbleOn, Inc primarily operates as a powersports retailer in the United States. It operates in two segments, Powersports and Vehicle Transportation Services. The Powersports segment provides new and pre-owned motorcycles, all-terrain vehicles, utility terrain or side-by-side vehicles, personal watercraft, snowmobiles, and other powersports products.