While ReNew Energy Global plc has overperformed by 2.21%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RNW fell by -0.36%, with highs and lows ranging from $7.79 to $4.78, whereas the simple moving average fell by -10.42% in the last 200 days.
On November 21, 2023, Mizuho started tracking ReNew Energy Global plc (NASDAQ: RNW) recommending Buy. A report published by Credit Suisse on May 15, 2023, Upgraded its rating to ‘Outperform’ for RNW. Goldman Initiated an Buy rating on December 07, 2021, and assigned a price target of $17. BofA Securities October 28, 2021d its ‘Neutral’ rating to ‘Buy’ for RNW, as published in its report on October 28, 2021.
Analysis of ReNew Energy Global plc (RNW)
Further, the quarter-over-quarter increase in sales is 19.90%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of ReNew Energy Global plc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 3.46% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.84, 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and RNW is recording an average volume of 627.87K. On a monthly basis, the volatility of the stock is set at 3.23%, whereas on a weekly basis, it is put at 4.31%, with a loss of -5.30% over the past seven days. Furthermore, long-term investors anticipate a median target price of $8.67, showing growth from the present price of $5.54, 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?
ReNew Energy Global plc (RNW) is based in the India and is one of the most prominent companies operating in the Utilities – Renewable market. 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 46.71, there is a growth in quarterly earnings of 14.12%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 60.45%. 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 35.55% 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 35.55% at present.
