ReNew Energy Global Plc (NASDAQ: RNW) is -9.45% lower on its value in year-to-date trading and has touched a low of $4.03 and a high of $8.97 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The RNW stock was last observed hovering at around $5.12 in the last trading session, with the day’s loss setting it -0.14% off its average median price target of $769.86 for the next 12 months. It is also 99.5% off the consensus price target high of $993.99 offered by 6 analysts, but current levels are 99.05% higher than the price target low of $522.46 for the same period.
Currently trading at $4.98, the stock is 2.35% and -8.10% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.29 million and changing -2.73% at the moment leaves the stock -19.03% off its SMA200. RNW registered -42.29% loss for a year compared to 6-month loss of -28.65%.
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The stock witnessed a -13.24% gain in the last 1 month and extending the period to 3 months gives it a -15.74%, and is 8.73% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.43% over the week and 6.91% over the month.
ReNew Energy Global Plc (RNW) has around 1675 employees, a market worth around $1.48B and $851.60M in sales. Fwd P/E is 31.13. Profit margin for the company is -12.30%. Distance from 52-week low is 23.42% and -44.48% from its 52-week high. The company has generated returns on investments over the last 12 months (4.30%).
ReNew Energy Global Plc (RNW) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for ReNew Energy Global Plc (RNW) is a “Buy”. 6 analysts offering their recommendations for the stock have an average rating of 1.70, where 0 rate it as a Hold and 1 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
ReNew Energy Global Plc is expected to release its quarterly report on 06/14/2023.The EPS is expected to shrink by -142.40% this year
ReNew Energy Global Plc (RNW) Top Institutional Holders
The shares outstanding are 393.89M, and float is at 93.08M with Short Float at 4.93%.