RideNow Group (NASDAQ:RDNW) Issues Quarterly Earnings Results

RideNow Group (NASDAQ:RDNW) posted its quarterly earnings results on Tuesday. The company reported ($0.11) earnings per share for the quarter, Zacks reports. RideNow Group had a negative net margin of 9.87% and a negative return on equity of 101.83%.

RideNow Group Price Performance

Shares of RDNW stock traded up $0.06 during trading hours on Tuesday, reaching $3.34. The stock had a trading volume of 25,397 shares, compared to its average volume of 296,486. The stock’s fifty day simple moving average is $3.68 and its 200 day simple moving average is $2.82. 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 has a 12 month low of $1.46 and a 12 month high of $7.06. The firm has a market capitalization of $127.09 million, a PE ratio of -1.11 and a beta of 1.10.

Institutional Investors Weigh In On RideNow Group

A hedge fund recently bought a new stake in RideNow Group stock. Qube Research & Technologies Ltd bought a new stake in RideNow Group, Inc. (NASDAQ:RDNW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 22,663 shares of the company’s stock, valued at approximately $52,000. Qube Research & Technologies Ltd owned approximately 0.06% of RideNow Group at the end of the most recent reporting period. 66.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of RideNow Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, RideNow Group currently has an average rating of “Hold” and an average price target of $4.50.

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.