ReNew Energy Global plc (NASDAQ: RNW) is -7.76% 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 $6.41 in the last trading session, with the day’s loss setting it -0.11%.
Currently trading at $6.30, the stock is -3.27% and -5.91% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.08 million and changing -1.72% at the moment leaves the stock 2.38% off its SMA200. RNW registered 0.32% gain for a year compared to 6-month gain of 10.72%.
The stock witnessed a -4.69% loss in the last 1 month and extending the period to 3 months gives it a 6.96%, and is -0.79% 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 3.57% over the week and 3.52% over the month.
ReNew Energy Global plc (RNW) has around 3988 employees, a market worth around $2.35B and $1.03B in sales. Current P/E ratio is 92.65 and Fwd P/E is 23.32. Profit margin for the company is 2.44%. Distance from 52-week low is 22.33% and -15.89% from its 52-week high. The company has generated returns on investments over the last 12 months (0.30%).
with sales reaching $24.9B over the same period.The EPS is expected to shrink by -81.67% this year, but quarterly earnings will post 1.19% year-over-year. Quarterly sales are estimated to grow 0.49% in year-over-year returns.
The shares outstanding are 254.67M, and float is at 156.43M with Short Float at 1.13%.
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 4.66 of the RNW Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 7.84 million shares valued at $48.9 million to account for 2.1589 of the shares outstanding. The other top investors are MORGAN STANLEY which holds 5.39 million shares representing 1.4836 and valued at over $33.61 million, while MILLENNIUM MANAGEMENT LLC holds 1.3166 of the shares totaling 4.78 million with a market value of $29.82 million.
