The stock of ReNew Energy Global plc (RNW) has gone down by -3.20% for the week, with a 11.78% rise in the past month and a -1.40% drop in the past quarter. The volatility ratio for the week is 2.67%, and the volatility levels for the past 30 days are 2.84% for RNW. The simple moving average for the last 20 days is 3.40% for RNW stock, with a simple moving average of 1.75% for the last 200 days.
Is It Worth Investing in ReNew Energy Global plc (NASDAQ: RNW) Right Now?
The price-to-earnings ratio for ReNew Energy Global plc (NASDAQ: RNW) is above average at 124.22x. The 36-month beta value for RNW is also noteworthy at 0.93. There are mixed opinions on the stock, with 6 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for RNW is 156.41M, and at present, short sellers hold a 4.52% of that float. The average trading volume of RNW on September 26, 2024 was 892.92K shares.
RNW) stock’s latest price update
ReNew Energy Global plc (NASDAQ: RNW)’s stock price has decreased by -3.49 compared to its previous closing price of 6.59. However, the company has seen a -3.20% decrease in its stock price over the last five trading sessions. 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.
Analysts’ Opinion of RNW
Mizuho, on the other hand, stated in their research note that they expect to see RNW reach a price target of $8. The rating they have provided for RNW stocks is “Buy” according to the report published on November 21st, 2023.
RNW Trading at 8.03% 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 -18.36% of loss for the given period.
Volatility was left at 2.84%, however, over the last 30 days, the volatility rate increased by 2.67%, as shares surge +11.96% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +11.76% upper at present.
During the last 5 trading sessions, RNW fell by -5.25%, which changed the moving average for the period of 200-days by -9.91% in comparison to the 20-day moving average, which settled at $6.18. In addition, ReNew Energy Global plc saw -16.97% 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 10.38. 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
In summary, ReNew Energy Global plc (RNW) has had a mixed performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
