ReNew Energy Global plc (NASDAQ: RNW) has a higher price-to-earnings ratio of 127.64x compared to its average ratio. RNW has 36-month beta value of 0.89. Analysts have mixed views on the stock, with 6 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for RNW is 156.41M, and currently, short sellers hold a 4.08% ratio of that float. The average trading volume of RNW on September 19, 2024 was 882.82K shares.
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RNW) stock’s latest price update
ReNew Energy Global plc (NASDAQ: RNW)’s stock price has soared by 0.69 in relation to previous closing price of 6.49. Nevertheless, the company has seen a gain of 4.39% in its stock price over the last five trading days. seekingalpha.com reported 2024-08-28 that ReNew Energy Global Plc, a UK-based firm, focuses on wind and solar power in India, with ancillary services in engineering, procurement, and construction. Despite strong growth potential from India’s renewable energy push, high debt, weather risks, and overvaluation pose significant concerns for ReNew Energy. ReNew’s recent performance shows steady financial growth and strategic expansion, but execution risks and market-specific challenges warrant a “Hold” rating.
RNW’s Market Performance
ReNew Energy Global plc (RNW) has experienced a 4.39% rise in stock performance for the past week, with a 13.65% rise in the past month, and a 4.56% rise in the past quarter. The volatility ratio for the week is 2.90%, and the volatility levels for the past 30 days are at 3.08% for RNW. The simple moving average for the last 20 days is 10.57% for RNW’s stock, with a simple moving average of 4.49% for the last 200 days.
Analysts’ Opinion of RNW
Many brokerage firms have already submitted their reports for RNW stocks, with Mizuho repeating the rating for RNW by listing it as a “Buy.” The predicted price for RNW in the upcoming period, according to Mizuho is $8 based on the research report published on November 21, 2023 of the previous year 2023.
RNW Trading at 12.11% from the 50-Day Moving Average
After a stumble in the market that brought RNW to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -16.11% of loss for the given period.
Volatility was left at 3.08%, however, over the last 30 days, the volatility rate increased by 2.90%, as shares surge +18.21% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +11.54% upper at present.
During the last 5 trading sessions, RNW rose by +4.23%, which changed the moving average for the period of 200-days by -0.84% in comparison to the 20-day moving average, which settled at $5.96. In addition, ReNew Energy Global plc saw -14.69% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for RNW
Current profitability levels for the company are sitting at:
- 0.74 for the present operating margin
- 0.96 for the gross margin
The net margin for ReNew Energy Global plc stands at 0.01. The total capital return value is set at 0.08. Equity return is now at value 1.50, with 0.19 for asset returns.
Based on ReNew Energy Global plc (RNW), the company’s capital structure generated 0.87 points at debt to capital in total, while cash flow to debt ratio is standing at 0.1. The debt to equity ratio resting at 6.45. The interest coverage ratio of the stock is 1.4.
Currently, EBITDA for the company is 66.58 billion with net debt to EBITDA at 8.29. When we switch over and look at the enterprise to sales, we see a ratio of 10.46. The receivables turnover for the company is 4.68for trailing twelve months and the total asset turnover is 0.09. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.67.
Conclusion
To put it simply, ReNew Energy Global plc (RNW) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
