ReNew Energy Global plc (NASDAQ: RNW) is -10.83% 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 $6.15 in the last trading session, with the day’s loss setting it -0.06%.
Currently trading at $6.09, the stock is -1.10% and -4.97% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.84 million and changing -0.98% at the moment leaves the stock -1.20% off its SMA200. RNW registered 2.01% gain for a year compared to 6-month loss of -8.01%. The firm has a 50-day simple moving average (SMA 50) of $6.4088 and a 200-day simple moving average (SMA200) of $6.163825.
The stock witnessed a -4.99% gain in the last 1 month and extending the period to 3 months gives it a -11.99%, and is -2.40% 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 1.98% over the week and 3.06% over the month.
ReNew Energy Global plc (RNW) has around 3988 employees, a market worth around $2.21B and $1.03B in sales. Current P/E ratio is 89.56 and Fwd P/E is 22.71. Profit margin for the company is 2.44%. Distance from 52-week low is 18.25% and -18.69% from its 52-week high. The company has generated returns on investments over the last 12 months (0.30%).
The EPS is expected to shrink by -82.98% this year
172.0 institutions hold shares in ReNew Energy Global plc (RNW), with institutional investors hold 98.76% of the company’s shares. The shares outstanding are 254.67M, and float is at 150.04M with Short Float at 1.54%. Institutions hold 83.20% of the Float.
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 MILLENNIUM MANAGEMENT LLC with 4.78 million shares valued at $29.82 million to account for 1.3166 of the shares outstanding. The other top investors are RUBRIC CAPITAL MANAGEMENT LP which holds 13.51 million shares representing 0.8227 and valued at over $84.28 million, while INVESCO LTD. holds 0.6361 of the shares totaling 2.31 million with a market value of $14.41 million.
