RideNow Group (NASDAQ:RDNW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of RideNow Group (NASDAQ:RDNW) to a buy rating in a research note published on Saturday morning.

RDNW has been the subject of a number of other research reports. DA Davidson set a $4.00 target price on RideNow Group and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of RideNow Group in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.00.

RideNow Group Trading Up 1.0%

RideNow Group stock opened at $5.98 on Friday. The company has a market capitalization of $227.36 million, a price-to-earnings ratio of -2.14 and a beta of 1.26. RideNow Group has a 12 month low of $1.46 and a 12 month high of $6.58. The stock’s 50 day moving average is $5.37 and its 200-day moving average is $3.94.

RideNow Group (NASDAQ:RDNW) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. The business had revenue of $281.00 million during the quarter, compared to analysts’ expectations of $270.24 million. RideNow Group had a negative return on equity of 223.85% and a negative net margin of 9.35%. As a group, equities research analysts predict that RideNow Group will post -0.89 earnings per share for the current fiscal year.

Institutional Trading of RideNow Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new position in RideNow Group in the second quarter valued at approximately $71,000. Qube Research & Technologies Ltd acquired a new stake in shares of RideNow Group in the 2nd quarter valued at $52,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of RideNow Group in the 2nd quarter valued at $137,000. Finally, Magnus Financial Group LLC increased its stake 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 purchasing an additional 20,000 shares during the last quarter. Institutional investors own 66.14% of the company’s stock.

RideNow Group Company Profile

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.