ReNew Energy Global plc (NASDAQ: RNW) is -2.49% 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 $6.78 in the last trading session, with the day’s loss setting it -0.12%.
Currently trading at $6.66, the stock is 0.08% and -0.62% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.03 million and changing -1.77% at the moment leaves the stock 8.59% off its SMA200. RNW registered 1.37% gain for a year compared to 6-month gain of 14.24%. The firm has a 50-day simple moving average (SMA 50) of $6.689 and a 200-day simple moving average (SMA200) of $6.127175.
The stock witnessed a 1.68% loss in the last 1 month and extending the period to 3 months gives it a 24.02%, and is -1.33% 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 2.56% over the week and 2.73% over the month.
ReNew Energy Global plc (RNW) has around 3988 employees, a market worth around $2.48B and $1.00B in sales. Current P/E ratio is 75.51 and Fwd P/E is 24.86. Profit margin for the company is 3.23%. Distance from 52-week low is 29.32% and -11.08% from its 52-week high. The company has generated returns on investments over the last 12 months (0.39%).
with sales reaching $20.22B over the same period.The EPS is expected to shrink by -20.06% this year, but quarterly earnings will post 2.60% year-over-year. Quarterly sales are estimated to grow 4.96% in year-over-year returns.
The shares outstanding are 254.67M, and float is at 156.37M with Short Float at 0.92%.
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.
