ReNew Energy Global plc (NASDAQ: RNW) is -9.08% 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 $6.08 in the last trading session, with the day’s gains setting it 0.13%.
Currently trading at $6.21, the stock is 3.61% and 0.14% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.47 million and changing 2.14% at the moment leaves the stock 1.28% off its SMA200. RNW registered 16.73% gain for a year compared to 6-month gain of 5.61%. The firm has a 50-day simple moving average (SMA 50) of $6.2016 and a 200-day simple moving average (SMA200) of $6.131675.
The stock witnessed a -0.80% loss in the last 1 month and extending the period to 3 months gives it a -7.73%, and is 7.25% 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 2.84% over the week and 3.54% over the month.
ReNew Energy Global plc (RNW) has around 3988 employees, a market worth around $2.25B and $1.03B in sales. Current P/E ratio is 91.32 and Fwd P/E is 22.93. Profit margin for the company is 2.44%. Distance from 52-week low is 20.58% and -17.09% 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 -82.69% 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.
168.0 institutions hold shares in ReNew Energy Global plc (RNW), with institutional investors hold 98.29% of the company’s shares. The shares outstanding are 254.67M, and float is at 150.04M with Short Float at 1.33%. Institutions hold 82.81% 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 RUBRIC CAPITAL MANAGEMENT LP with 13.51 million shares valued at $84.28 million to account for 0.8227 of the shares outstanding. The other top investors are INVESCO LTD. which holds 2.31 million shares representing 0.6361 and valued at over $14.41 million, while BLACKROCK INC. holds 0.4774 of the shares totaling 7.84 million with a market value of $48.9 million.
