While ReNew Energy Global plc has underperformed by -2.04%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RNW rose by 17.28%, with highs and lows ranging from $7.79 to $4.78, whereas the simple moving average fell by -7.38% in the last 200 days.
On September 26, 2024, Morgan Stanley Downgraded ReNew Energy Global plc (NASDAQ: RNW) to Equal-Weight. A report published by Mizuho on November 21, 2023, Initiated its previous ‘Buy’ rating for RNW. Goldman initiated its ‘Buy’ rating for RNW, as published in its report on December 07, 2021. BofA Securities’s report from October 28, 2021 suggests a price prediction of $12 for RNW shares, giving the stock a ‘Buy’ rating.
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Analysis of ReNew Energy Global plc (RNW)
Further, the quarter-over-quarter increase in sales is 5.77%, showing a positive trend in the upcoming months.
To gain a thorough understanding of ReNew Energy Global plc’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of 1.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.66, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and RNW is recording an average volume of 857.24K. On a monthly basis, the volatility of the stock is set at 3.27%, whereas on a weekly basis, it is put at 4.17%, with a loss of -7.83% over the past seven days. Furthermore, long-term investors anticipate a median target price of $8.89, showing growth from the present price of $5.77, which can serve as yet another indication of whether RNW is worth investing in or should be passed over.
How Do You Analyze ReNew Energy Global plc Shares?
A leading company in the Utilities – Renewable sector, ReNew Energy Global plc (RNW) is based in the India. When comparing ReNew Energy Global plc shares with other companies under Utilities, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 112.70, there is a growth in quarterly earnings of -86.75%.
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 58.07%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 37.86% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
RNW shares are owned by institutional investors to the tune of 37.86% at present.
