Are we looking at the next big move in ReNew Energy Global plc (RNW)?

ReNew Energy Global plc (NASDAQ: RNW) is -25.72% 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 $5.68 in the last trading session, with the day’s gains setting it 0.01%.

Currently trading at $5.69, the stock is -1.28% and -3.95% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.59 million and changing 0.18% at the moment leaves the stock -9.14% off its SMA200. RNW registered -8.81% loss for a year compared to 6-month loss of -9.39%.

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The stock witnessed a -0.52% gain in the last 1 month and extending the period to 3 months gives it a -6.26%, and is 3.27% 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 3.69% over the week and 3.76% over the month.

ReNew Energy Global plc (RNW) has around 3988 employees, a market worth around $2.12B and $997.69M in sales. Current P/E ratio is 111.13 and Fwd P/E is 14.33. Profit margin for the company is 1.91%. Distance from 52-week low is 19.04% and -26.96% from its 52-week high. The company has generated returns on investments over the last 12 months (0.23%).

with sales reaching $271.56M over the same period.The EPS is expected to shrink by -17.78% this year, but quarterly earnings will post 22.10% year-over-year.

ReNew Energy Global plc (RNW) Top Institutional Holders

The shares outstanding are 244.27M, and float is at 156.41M with Short Float at 4.28%.

The top institutional shareholder in the company is CANADA PENSION PLAN INVESTMENT BOARD with over 76.5 million shares valued at $477.37 million. The investor’s holdings represent 21.0754% of the RNW Shares outstanding. As of 2024-06-30, the second largest holder is RUBRIC CAPITAL MANAGEMENT LP with 13.51 million shares valued at $84.28 million to account for 3.7208 of the shares outstanding. The other top investors are BLACKROCK INC. which holds 7.84 million shares representing 2.1589% and valued at over $48.9 million, while TORTOISE CAPITAL ADVISORS, L.L.C. holds 1.5618 of the shares totaling 5.67 million with a market value of $35.38 million.