RideNow Group, Inc. (NASDAQ:RDNW) Receives $4.50 Average PT from Brokerages

Shares of RideNow Group, Inc. (NASDAQ:RDNW) have been given an average rating of “Hold” by the six ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $4.50.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of RideNow Group in a report on Saturday, September 27th.

RideNow Group Stock Down 4.0%

NASDAQ:RDNW opened at $4.32 on Friday. The company has a debt-to-equity ratio of 8.00, a current ratio of 1.16 and a quick ratio of 0.29. The company’s fifty day moving average price is $3.28 and its 200-day moving average price is $2.69. RideNow Group has a 1-year low of $1.46 and a 1-year high of $7.06. The firm has a market capitalization of $164.38 million, a P/E ratio of -1.44 and a beta of 0.94.

RideNow Group (NASDAQ:RDNW) last issued its earnings results on Monday, August 11th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $299.90 million for the quarter, compared to the consensus estimate of $259.08 million. RideNow Group had a negative return on equity of 101.83% and a negative net margin of 9.87%. As a group, equities research analysts anticipate that RideNow Group will post -0.89 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RDNW. Jane Street Group LLC acquired a new stake in RideNow Group during the second quarter worth $71,000. Qube Research & Technologies Ltd acquired a new stake in shares of RideNow Group during the second quarter valued at about $52,000. Y Intercept Hong Kong Ltd acquired a new position in shares of RideNow Group in the 2nd quarter worth approximately $137,000. Magnus Financial Group LLC raised its holdings in shares of RideNow Group by 50.0% in the 2nd quarter. Magnus Financial Group LLC now owns 60,000 shares of the company’s stock valued at $139,000 after buying an additional 20,000 shares during the period. Finally, First Financial Bankshares Inc acquired a new position in RideNow Group in the 1st quarter valued at about $283,000. Institutional investors and hedge funds own 66.14% of the company’s stock.

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.