There are many powerful catalysts in the market: ReNew Energy Global Plc (RNW) can be one of them

ReNew Energy Global Plc (NASDAQ: RNW) closed the day trading at $6.09 down -3.03% from the previous closing price of $6.28. In other words, the price has decreased by -$0.19 from its previous closing price. On the day, 609565 shares were traded. RNW stock price reached its highest trading level at $6.30 during the session, while it also had its lowest trading level at $6.08.

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Ratios:

For a better understanding of RNW, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.20 and its Current Ratio is at 1.30. In the meantime, Its Debt-to-Equity ratio is 3.91 whereas as Long-Term Debt/Eq ratio is at 3.60.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Goldman on December 07, 2021, initiated with a Buy rating and assigned the stock a target price of $17.

On October 28, 2021, BofA Securities Upgraded its rating to Buy which previously was Neutral and also upped its target price recommendation from $11 to $12.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 2.02 while its Price-to-Book (P/B) ratio in mrq is 1.72.

Stock Price History:

Over the past 52 weeks, RNW has reached a high of $8.97, while it has fallen to a 52-week low of $5.02. The 50-Day Moving Average of the stock is 5.83, while the 200-Day Moving Average is calculated to be 6.53.

Shares Statistics:

Over the past 3-months, RNW traded about 1.01M shares per day on average, while over the past 10 days, RNW traded about 952.79k shares per day. A total of 392.26M shares are outstanding, with a floating share count of 93.08M. Insiders hold about 15.25% of the company’s shares, while institutions hold 77.70% stake in the company. Shares short for RNW as of Oct 13, 2022 were 3.35M with a Short Ratio of 6.09M, compared to 2.76M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 0.84% and a Short% of Float of 2.87%.

Earnings Estimates

Current recommendations for the stock of the company come from 2 analysts. On average, analysts expect EPS of $0.08 for the current quarter, with a high estimate of $0.09 and a low estimate of $0.07, while EPS last year was -$0.73. The consensus estimate for the next quarter is -$0.06, with high estimates of -$0.03 and low estimates of -$0.1.

Analysts are recommending an EPS of between $0.17 and -$0.13 for the fiscal current year, implying an average EPS of $0.02. EPS for the following year is $0.2, with 6 analysts recommending between $0.45 and $0.04.

Revenue Estimates

A total of 7 analysts have provided revenue estimates for RNW’s current fiscal year. The highest revenue estimate was $1.22B, while the lowest revenue estimate was $915.1M, resulting in an average revenue estimate of $1.04B. In the same quarter a year ago, actual revenue was $912M, up 13.60% from the average estimate. Based on 7 analysts’ estimates, the company’s revenue will be $1.33B in the next fiscal year. The high estimate is $1.62B and the low estimate is $1.19B. The average revenue growth estimate for next year is up 28.10% from the average revenue estimate for this year.