ReNew Energy Global plc (NASDAQ: RNW) is -19.84% lower on its value in year-to-date trading and has touched a low of $5.15 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 $6.01 in the last trading session, with the day’s gains setting it 0.13%.
Currently trading at $6.14, the stock is 7.67% and 5.30% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.79 million and changing 2.16% at the moment leaves the stock 2.82% off its SMA200. RNW registered -8.77% loss for a year compared to 6-month loss of 5.50%. The firm has a 50-day simple moving average (SMA 50) of $5.8397 and a 200-day simple moving average (SMA200) of $5.972275.
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The stock witnessed a 8.29% gain in the last 1 month and extending the period to 3 months gives it a 4.24%, and is 0.82% 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 3.63% over the week and 4.15% over the month.
ReNew Energy Global plc (RNW) has around 3988 employees, a market worth around $2.29B and $1.00B in sales. Current P/E ratio is 69.61 and Fwd P/E is 20.38. Profit margin for the company is 3.23%. Distance from 52-week low is 19.22% and -21.18% from its 52-week high. The company has generated returns on investments over the last 12 months (0.39%).
The EPS is expected to shrink by -3.68% this year
The shares outstanding are 254.67M, and float is at 156.37M with Short Float at 4.13%.
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.
