RideNow Group (NASDAQ:RDNW) Given Sell (D-) Rating at Weiss Ratings

Key Points

• RideNow Group (NASDAQ:RDNW) has been assigned a sell (D-) rating by Weiss Ratings, reflecting analysts' negative outlook on the stock.
• The company reported a profit of $0.04 EPS for the last quarter, surpassing analysts' expectations despite a negative return on equity of 101.83% and a negative net margin of 9.87%.
• Recent institutional trading shows significant activity, with major investors like Bank of America Corp DE increasing their stake by 39.3% in the last quarter.

RideNow Group (NASDAQ:RDNW - Get Free Report)'s stock had its "sell (d-)" rating restated by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

RideNow Group Price Performance

Shares of NASDAQ RDNW opened at $3.58 on Wednesday. The business's 50 day moving average price is $3.37 and its 200 day moving average price is $2.71. The firm has a market cap of $136.22 million, a P/E ratio of -1.19 and a beta of 0.94. RideNow Group has a 52 week low of $1.46 and a 52 week high of $7.06. The company has a quick ratio of 0.29, a current ratio of 1.16 and a debt-to-equity ratio of 8.00.

RideNow Group (NASDAQ:RDNW - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported $0.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $299.90 million during the quarter, compared to the consensus estimate of $259.08 million. On average, sell-side analysts expect that RideNow Group will post -0.89 earnings per share for the current year.

Institutional Trading of RideNow Group

Several large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in RideNow Group by 39.3% in the 4th quarter. Bank of America Corp DE now owns 26,155 shares of the company's stock valued at $142,000 after buying an additional 7,383 shares in the last quarter. Magnus Financial Group LLC lifted its stake in RideNow Group by 50.0% during the 2nd quarter. Magnus Financial Group LLC now owns 60,000 shares of the company's stock worth $139,000 after acquiring an additional 20,000 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in RideNow Group in the 2nd quarter valued at about $52,000. Jane Street Group LLC acquired a new stake in RideNow Group in the 2nd quarter valued at about $71,000. Finally, Nuveen LLC purchased a new stake in RideNow Group during the first quarter worth approximately $98,000. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

RideNow Group Company Profile

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.

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