Is ReNew Energy Global plc (RNW) Price Targeted To Increase?

As of Wednesday close, ReNew Energy Global plc’s (NASDAQ:RNW) stock was up $0.09, moving up 1.02 percent to $8.88. The average number of shares traded per day over the past five days has been 828,380 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.08 fall in that time frame. In the last twenty days, the average volume was 952,150, while in the previous 50 days, it was 1,157,590.

Since last month, RNW stock retreated -0.34%. Shares of the company fell to $8.32 on 11/24/21, the lowest level in the past month. Since the beginning of this year, RNW’s stock price has dropped by -18.61%. However, the stock has declined by -36.93% since its 52-week high.

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In the recent quarter, ReNew Energy Global plc’s quick ratio stood at 4.90, while its current ratio was 4.90, showing that the company is able to pay off its debt.

Earnings Surprise

During the quarter, the company generated $70.0 million in EBITDA. The liabilities of ReNew Energy Global plc were 6.22 billion at the end of its most recent quarter, and its total debt was $353.78 billion.

Technical Picture

This quick technical analysis looks at ReNew Energy Global plc’s (RNW) price momentum. With a historical volatility rate of 49.69%, the RSI 9-day stood at 38.94% on 24 November.

With respect to its five-day moving average, the current ReNew Energy Global plc price is down by -0.89% percent or -$0.08. At present, RNW shares trade -3.58% below its 20-day simple moving average. However, the stock is currently trading approximately -7.21% below its SMA50.

Stochastic coefficient K was 22.41% and Stochastic coefficient D was 19.04%, while ATR was 0.55. Given the Stochastic reading of 27.45% for the 14-day period, the RSI (14) reading has been calculated as 42.18%. As of today, the MACD Oscillator reading stands at -0.26, while the 14-day reading stands at -0.47.

Analyst Ratings

BofA Securities upgraded its rating on ReNew Energy Global plc (NASDAQ: RNW) to a Buy in a note to investors on October 28, 2021. The analysts firm previously had a Neutral rating on the stock.ReNew Energy Global plc (RNW) has been rated Buy by analysts. According to 0 brokerage firms, RNW is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate ReNew Energy Global plc stock as buy, with 4 recommending it as overweight.

What is RNW’s price target for the next 12 months?

With a median target price of $13.25, the current consensus forecast for the stock is $11.96 – $17.00. Based on these forecasts, analysts predict ReNew Energy Global plc (RNW) will achieve an average price target of $13.87.


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