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

RideNow Group, Inc. (NASDAQ:RDNW) has earned an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $4.00.

RDNW has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of RideNow Group in a research note on Wednesday, October 8th. DA Davidson set a $4.00 target price on RideNow Group and gave the company a “neutral” rating in a research note on Wednesday, November 5th.

RideNow Group Stock Down 1.0%

Shares of RideNow Group stock opened at $5.01 on Friday. The stock’s 50-day moving average is $4.28 and its 200 day moving average is $3.14. RideNow Group has a one year low of $1.46 and a one year high of $6.95. The firm has a market cap of $190.47 million, a price-to-earnings ratio of -1.79 and a beta of 1.09. The company has a debt-to-equity ratio of 8.00, a current ratio of 1.12 and a quick ratio of 0.29.

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

Hedge Funds Weigh In On RideNow Group

Institutional investors have recently modified their holdings of the company. First Financial Bankshares Inc bought a new position in shares of RideNow Group in the 1st quarter worth $283,000. Y Intercept Hong Kong Ltd acquired a new position in RideNow Group during the second quarter worth $137,000. Nuveen LLC bought a new position in shares of RideNow Group in the first quarter valued at $98,000. Jane Street Group LLC bought a new position in shares of RideNow Group in the second quarter valued at $71,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of RideNow Group during the second quarter valued at about $52,000. 66.14% of the stock is owned by institutional investors and hedge funds.

RideNow Group Company Profile

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.