Positives for ReNew Energy Global plc (RNW) as stock gains in recent trading

ReNew Energy Global plc (NASDAQ: RNW) is -7.05% 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 $7.09 in the last trading session, with the day’s gains setting it 0.03%.

Currently trading at $7.12, the stock is 14.63% and 19.96% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.57 million and changing 0.42% at the moment leaves the stock 18.96% off its SMA200. RNW registered -1.52% loss for a year compared to 6-month loss of 14.65%. The firm has a 50-day simple moving average (SMA 50) of $5.9109 and a 200-day simple moving average (SMA200) of $5.982525.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free
Sponsored

The stock witnessed a 33.33% gain in the last 1 month and extending the period to 3 months gives it a 10.39%, and is 14.47% 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 5.58% over the week and 4.72% over the month.

ReNew Energy Global plc (RNW) has around 3988 employees, a market worth around $2.61B and $1.00B in sales. Current P/E ratio is 80.73 and Fwd P/E is 26.02. Profit margin for the company is 3.23%. Distance from 52-week low is 38.25% and -8.60% from its 52-week high. The company has generated returns on investments over the last 12 months (0.39%).

with sales reaching $20.21B over the same period.The EPS is expected to shrink by -19.34% this year, but quarterly earnings will post 2.58% year-over-year. Quarterly sales are estimated to grow 4.91% in year-over-year returns.

ReNew Energy Global plc (RNW) Top Institutional Holders

The shares outstanding are 254.67M, and float is at 156.37M with Short Float at 3.24%.

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.