Analyzing Stock On Your Own: ReNew Energy Global plc (NASDAQ: RNW)

ReNew Energy Global plc (NASDAQ:RNW) does about 676.01K shares in volume on a normal day but saw 20575200 shares change hands in Tuesday’s trading. The company now has a market cap of 2.26B USD. Its current market price is $6.05, marking an increase of 0.33% compared to the previous close of $6.03. The 52 week high reached by this stock is $7.79 whilst the lowest price level in 52 weeks is $4.78.

ReNew Energy Global plc (RNW) has a 20-day trading average at $5.82 and the current price is -22.34% off the 52-week high compared with 26.57% distance from its 52-week low. The 50-day simple moving average of the closing price is $5.97 and its 200-day simple moving average is $6.19. If we look at the stock’s price movements over the week, volatility stands at 2.38%, which increases to 3.28% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 55.16 to suggest the stock is neutral.

The consensus objective for the share price is $8.71, suggesting that the stock has a potential upside of 30.54% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on November 21, 2023 when Mizuho initiated the stock to “Buy” and issued a price target of $8.

ReNew Energy Global plc (RNW) stock is down -0.33% over the week and 12.45% over the past month. Its price is -21.02% year-to-date and 13.94% over the past year.

To reach the target analysts have set, the stock logically needs to grow 30.54 percent from here.

The company has a return on investment of 0.56% and return on equity of 3.46%. The price to earnings ratio (P/E ratio) amounts to 51.01. The beta has a value of 0.92. Price to book ratio is 1.81 and price to sales ratio is 2.15.