Robert W. Baird Issues Positive Forecast for RideNow Group (NASDAQ:RDNW) Stock Price

RideNow Group (NASDAQ:RDNW) had its price target increased by Robert W. Baird from $7.00 to $9.00 in a report issued on Friday, Marketbeat Ratings reports. The firm currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the company. Wall Street Zen upgraded RideNow Group from a “hold” rating to a “buy” rating in a research note on Sunday, April 12th. DA Davidson reiterated a “neutral” rating and issued a $6.00 target price on shares of RideNow Group in a research note on Tuesday, March 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of RideNow Group in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $7.50.

RideNow Group Price Performance

Shares of NASDAQ:RDNW opened at $7.91 on Friday. RideNow Group has a 12 month low of $1.46 and a 12 month high of $8.22. The firm has a market capitalization of $303.82 million, a PE ratio of -6.38 and a beta of 1.13. The business has a 50-day moving average of $6.76 and a two-hundred day moving average of $5.93.

RideNow Group (NASDAQ:RDNW) last posted its earnings results on Thursday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter. RideNow Group had a negative net margin of 4.28% and a negative return on equity of 2,628.57%. The company had revenue of $260.40 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Union Square Park Capital Management LLC purchased a new position in RideNow Group in the fourth quarter valued at about $8,763,000. Geode Capital Management LLC purchased a new position in RideNow Group in the fourth quarter valued at about $1,477,000. Deutsche Bank AG purchased a new position in RideNow Group in the fourth quarter valued at about $1,004,000. Millennium Management LLC purchased a new position in RideNow Group in the fourth quarter valued at about $927,000. Finally, First Financial Bankshares Inc purchased a new position in RideNow Group in the fourth quarter valued at about $554,000. Hedge funds and other institutional investors own 66.14% of the company’s stock.

About RideNow Group

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.