The stock of ReNew Energy Global Plc (NASDAQ:RNW) increased by $0.02 on Friday to finish at $6.26, up 0.32 percent. The last five days have seen an average of 745,800 shares of common stock traded. 6 times new highs were reached in the current year, with a gain of $0.76. The average number of shares traded over the last 20 days was 433,785, while the average volume over the last 50 days totaled 674,698.
RNW stock appreciated 5.03% since last month. On 08/21/23, the company’s shares reached a one-month low of $4.84. The stock touched a high of $7.56 on 01/18/23, after rallying from a low of $4.03 in 52 weeks. The price of RNW stock has risen by 13.82% or $0.76 this year, reaching a new high 6 times. Still, the stock price is down -17.20% from the 52-week high.
Valuation Metrics
Beta for the stock is 0.71. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.49, the price-to-book (PB) ratio of 1.84.
Financial Health
For the three months ended June 29, ReNew Energy Global Plc’s quick ratio was 0.80, while its current ratio was 0.80, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 4.55, and the total debt to equity ratio is 5.30. As far as profitability goes, gross margin for the trailing twelve months is 90.30% percent. ReNew Energy Global Plc’s operating margin stood at 54.80% for the same period. Based on annual data, it had gross profit of $1.0 billion and revenue of $1.09 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. RNW’s return on assets (ROA) during the last 12 months has been -0.20%. There was a 6.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -1.60%.
Earnings Surprise
According to ReNew Energy Global Plc’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $912.0 million, while revenues rose by 100.0% to $0.0. It was predicted that ReNew Energy Global Plc’s quarterly earnings would be $0.09, but it ended up being $0.06. EBITDA was $242.0 million for the quarter. At the end of ReNew Energy Global Plc’s most recent quarter ended June 29, its liabilities totaled 8.05 billion, while its total debt was $551.35 billion.
Technical Picture
Here’s a quick look at ReNew Energy Global Plc’s (RNW) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 61.43%, suggesting the stock is Neutral, with a 44.89% historical volatility rate.
The stochastic %K and %D were 86.75% and 77.09% respectively, while the average true range (ATR) was 0.30. Based on the 14-day stochastic reading of 87.65%, the RSI (14) reading is 58.89%. On the 9-day MACD Oscillator, the stock is at 0.12, and the 14-day reading is at 0.08.
Analyst Ratings
In its most recent analyst report, Credit Suisse raised its rating on ReNew Energy Global Plc (NASDAQ: RNW) to an Outperform. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned ReNew Energy Global Plc (RNW) an Buy rating. RNW is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 6 others recommend it as a buy.
What is RNW’s price target for the next 12 months?
The current consensus forecast for the stock is between $र540.87 and $र747.96, with a median target price of $र696.65. In analyzing these forecasts, the average price target given by analysts for ReNew Energy Global Plc (RNW) is $र657.68.
