RideNow Group (NASDAQ:RDNW) Issues Earnings Results

RideNow Group (NASDAQ:RDNW) announced its quarterly earnings data on Monday. The company reported ($0.17) EPS for the quarter, FiscalAI reports. RideNow Group had a negative net margin of 9.35% and a negative return on equity of 223.85%. The firm had revenue of $256.90 million for the quarter.

RideNow Group Trading Up 3.4%

NASDAQ:RDNW traded up $0.22 on Monday, reaching $6.70. 81,575 shares of the stock traded hands, compared to its average volume of 41,967. The company’s fifty day simple moving average is $5.94 and its 200 day simple moving average is $4.90. The company has a market capitalization of $254.72 million, a price-to-earnings ratio of -2.39 and a beta of 1.26. RideNow Group has a 12 month low of $1.46 and a 12 month high of $7.17.

Hedge Funds Weigh In On RideNow Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. City State Bank purchased a new stake in shares of RideNow Group during the fourth quarter valued at $26,000. Dimensional Fund Advisors LP bought a new position in RideNow Group during the fourth quarter valued at approximately $64,000. Balyasny Asset Management L.P. purchased a new stake in RideNow Group in the fourth quarter worth approximately $66,000. OMERS ADMINISTRATION Corp bought a new stake in RideNow Group in the 4th quarter worth approximately $69,000. Finally, Barclays PLC bought a new stake in RideNow Group in the 4th quarter worth approximately $94,000. 66.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on RDNW shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of RideNow Group in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of RideNow Group to a “buy” rating in a report on Saturday, January 10th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.00.

About RideNow Group

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.