Weiss Ratings Reiterates Sell (D-) Rating for RideNow Group (NASDAQ:RDNW)

RideNow Group (NASDAQ:RDNWGet Free Report)‘s stock had its “sell (d-)” rating reissued by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

RideNow Group Price Performance

Shares of NASDAQ:RDNW opened at $3.58 on Wednesday. RideNow Group has a 1 year low of $1.46 and a 1 year high of $7.06. The business has a fifty day simple moving average of $3.37 and a 200 day simple moving average of $2.71. The company has a current ratio of 1.16, a quick ratio of 0.29 and a debt-to-equity ratio of 8.00. The firm has a market cap of $136.22 million, a price-to-earnings ratio of -1.19 and a beta of 0.94.

RideNow Group (NASDAQ:RDNWGet Free Report) last released its earnings results on Monday, August 11th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The business 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, sell-side analysts predict that RideNow Group will post -0.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RideNow Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDNW. Bank of America Corp DE raised its holdings in shares of RideNow Group by 39.3% in the 4th quarter. Bank of America Corp DE now owns 26,155 shares of the company’s stock valued at $142,000 after purchasing an additional 7,383 shares during the period. Magnus Financial Group LLC grew its position in shares of RideNow Group by 50.0% during the 2nd quarter. Magnus Financial Group LLC now owns 60,000 shares of the company’s stock worth $139,000 after purchasing an additional 20,000 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of RideNow Group during the 2nd quarter worth approximately $52,000. Jane Street Group LLC acquired a new stake in shares of RideNow Group during the 2nd quarter worth approximately $71,000. Finally, Nuveen LLC bought a new position in RideNow Group in the 1st quarter valued at approximately $98,000. 66.14% of the stock is owned by institutional investors.

About RideNow Group

(Get Free Report)

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.

Further Reading

Analyst Recommendations for RideNow Group (NASDAQ:RDNW)

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