RideNow Group (NASDAQ:RDNW) Shares Up 0.3% – Time to Buy?

RideNow Group, Inc. (NASDAQ:RDNW) shot up 0.3% during trading on Thursday . The stock traded as high as $3.52 and last traded at $3.45. 8,086 shares were traded during trading, a decline of 73% from the average session volume of 30,102 shares. The stock had previously closed at $3.44.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RideNow Group in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, RideNow Group has a consensus rating of “Hold” and a consensus price target of $4.50.

RideNow Group Price Performance

The business has a fifty day moving average of $3.67 and a 200-day moving average of $2.80. The firm has a market cap of $131.27 million, a PE ratio of -1.15 and a beta of 0.94. The company has a current ratio of 1.16, a quick ratio of 0.29 and a debt-to-equity ratio of 8.00.

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

Institutional Trading of RideNow Group

Several institutional investors and hedge funds have recently bought and sold shares of RDNW. First Financial Bankshares Inc purchased a new stake in RideNow Group in the 1st quarter worth approximately $283,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of RideNow Group in the second quarter worth $137,000. Nuveen LLC purchased a new stake in shares of RideNow Group in the first quarter worth $98,000. Jane Street Group LLC purchased a new stake in shares of RideNow Group in the second quarter worth $71,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of RideNow Group in the second quarter worth $52,000. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

About RideNow Group

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.