ReNew Energy Global plc (NASDAQ: RNW) is -3.81% lower on its value in year-to-date trading and has touched a low of $5.15 and a high of $7.49 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 $6.61 in the last trading session, with the day’s loss setting it -0.04%.
Currently trading at $6.57, the stock is -2.74% and 0.99% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.66 million and changing -0.61% at the moment leaves the stock 8.14% off its SMA200. RNW registered -4.09% loss for a year compared to 6-month gain of 16.08%. The firm has a 50-day simple moving average (SMA 50) of $6.4786 and a 200-day simple moving average (SMA200) of $6.071625.
The stock witnessed a -2.81% loss in the last 1 month and extending the period to 3 months gives it a 8.96%, and is -1.94% 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 2.61% over the week and 2.70% over the month.
ReNew Energy Global plc (RNW) has around 3988 employees, a market worth around $2.45B and $1.00B in sales. Current P/E ratio is 74.49 and Fwd P/E is 24.36. Profit margin for the company is 3.23%. Distance from 52-week low is 27.57% and -12.28% 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 -19.24% this year
The shares outstanding are 254.67M, and float is at 156.37M with Short Float at 1.41%.
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.
