RideNow Group (NASDAQ:RDNW – Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($0.36) EPS for the quarter, FiscalAI reports. The company had revenue of $244.30 million for the quarter.
RideNow Group Stock Performance
Shares of RDNW traded down $0.02 during mid-day trading on Tuesday, reaching $5.57. 80,953 shares of the company were exchanged, compared to its average volume of 72,889. RideNow Group has a 52 week low of $4.52 and a 52 week high of $8.55. The stock has a market capitalization of $217.29 million, a PE ratio of -24.22 and a beta of 1.34. The business has a 50 day simple moving average of $5.43 and a two-hundred day simple moving average of $6.31.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on RDNW. Texas Capital downgraded shares of RideNow Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 30th. Weiss Ratings upgraded RideNow Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 27th. Finally, DA Davidson cut their price objective on RideNow Group from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $8.50.
View Our Latest Report on RDNW
Institutional Trading of RideNow Group
Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its holdings in RideNow Group by 6,144.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 108,085 shares of the company’s stock worth $594,000 after purchasing an additional 106,354 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of RideNow Group by 8.4% in the 1st quarter. Hillsdale Investment Management Inc. now owns 64,703 shares of the company’s stock valued at $457,000 after purchasing an additional 5,000 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of RideNow Group in the 2nd quarter valued at $296,000. Bank of America Corp DE increased its position in shares of RideNow Group by 238.5% during the first quarter. Bank of America Corp DE now owns 32,456 shares of the company’s stock worth $229,000 after buying an additional 22,868 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in shares of RideNow Group during the second quarter worth $82,000. 66.14% of the stock is currently owned by 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. It also offers parts, apparel, accessories, finance and insurance products and services, and aftermarket products, as well as repair and maintenance services.
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