Analysts Set RideNow Group, Inc. (NASDAQ:RDNW) PT at $4.00

Shares of RideNow Group, Inc. (NASDAQ:RDNW) have been given a consensus rating of “Hold” by the five analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $4.00.

Several equities analysts have weighed in on RDNW shares. DA Davidson set a $4.00 price target on RideNow Group and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of RideNow Group to a “buy” rating in a report on Saturday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of RideNow Group in a research note on Wednesday, October 8th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Qube Research & Technologies Ltd acquired a new stake in shares of RideNow Group in the second quarter worth approximately $52,000. Jane Street Group LLC purchased a new position in shares of RideNow Group in the 2nd quarter worth $71,000. Y Intercept Hong Kong Ltd acquired a new position in RideNow Group in the second quarter valued at $137,000. Finally, Magnus Financial Group LLC grew its position 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 during the period. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

RideNow Group Stock Performance

RideNow Group stock opened at $5.98 on Friday. The firm has a market capitalization of $227.36 million, a price-to-earnings ratio of -2.14 and a beta of 1.26. RideNow Group has a fifty-two week low of $1.46 and a fifty-two week high of $6.58. The stock’s fifty day moving average is $5.37 and its two-hundred day moving average is $3.94.

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

RideNow Group Company Profile

RideNow Group, Inc (NASDAQ: RDNW) is a leading U.S. retailer of powersports vehicles, offering both new and pre-owned inventory to enthusiasts and recreational riders. The company’s dealerships carry a diverse lineup of motorcycles, all-terrain vehicles (ATVs), side-by-sides, personal watercraft and snowmobiles from major manufacturers. In addition to vehicle sales, RideNow Group provides comprehensive service and maintenance, aftermarket parts and accessories and a range of financing and protection plans tailored to powersports customers.

Founded in 2004 and headquartered in Houston, Texas, RideNow Group has grown through a combination of organic expansion and strategic acquisitions.