ReNew Energy Global plc (NASDAQ: RNW) is -21.67% lower on its value in year-to-date trading and has touched a low of $4.78 and a high of $7.79 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 $5.88 in the last trading session, with the day’s gains setting it 0.12%.
Currently trading at $6.00, the stock is -5.20% and -7.14% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.75 million and changing 2.04% at the moment leaves the stock -2.71% off its SMA200. RNW registered 11.32% gain for a year compared to 6-month gain of 8.11%. The firm has a 50-day simple moving average (SMA 50) of $0.10 and a 200-day simple moving average (SMA200) of $0.14.
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The stock witnessed a -4.91% loss in the last 1 month and extending the period to 3 months gives it a -21.16%, and is -2.60% down 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 3.57% over the week and 3.27% over the month.
ReNew Energy Global plc (RNW) has around 2481 employees, a market worth around $2.24B and $1.05B in sales. Current P/E ratio is 50.59 and Fwd P/E is 61.19. Profit margin for the company is 4.22%. Distance from 52-week low is 25.52% and -22.98% from its 52-week high. The company has generated returns on investments over the last 12 months (0.56%).
ReNew Energy Global plc quarterly earnings per share for the current quarter are estimated at -$0.07 with sales reaching $243.6M over the same period.The EPS is expected to grow by 77.04% this year, but quarterly earnings will post 10.00% year-over-year. Quarterly sales are estimated to shrink -14.20% in year-over-year returns.
137 institutions hold shares in ReNew Energy Global plc (RNW), with institutional investors hold 97.59% of the company’s shares. The shares outstanding are 254.67M, and float is at 147.54M with Short Float at 3.74%. Institutions hold 81.63% of the Float.
The top institutional shareholder in the company is Canada Pension Plan Investment Board with over 76.5 million shares valued at $419.23 million. The investor’s holdings represent 28.32% of the RNW Shares outstanding. As of Jun 29, 2023, the second largest holder is abrdn plc with 8.33 million shares valued at $45.62 million to account for 3.08% of the shares outstanding. The other top investors are Rubric Capital Management LP which holds 8.17 million shares representing 3.02% and valued at over $44.75 million, while Tortoise Capital Advisors, LLC holds 1.60% of the shares totaling 4.33 million with a market value of $23.75 million.
