Investing in ReNew Energy Global Plc (RNW) is a safe bet with a significant edge

In the latest session, ReNew Energy Global Plc (NASDAQ: RNW) closed at $5.12 up 9.17% from its previous closing price of $4.69. In other words, the price has increased by $+0.43 from its previous closing price. On the day, 1671245 shares were traded. RNW stock price reached its highest trading level at $5.16 during the session, while it also had its lowest trading level at $4.76.

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For a deeper understanding of ReNew Energy Global Plc’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.00 and its Current Ratio is at 1.00. In the meantime, Its Debt-to-Equity ratio is 4.25 whereas as Long-Term Debt/Eq ratio is at 3.97.

Upgrades & Downgrades

On December 07, 2021, Goldman started tracking the stock assigning a Buy rating and target price of $17.

BofA Securities Upgraded its Neutral to Buy on October 28, 2021, whereas the target price for the stock was revised from $11 to $12.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 1.79 while its Price-to-Book (P/B) ratio in mrq is 1.53.

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 $4.03. The 50-Day Moving Average of the stock is 5.42, while the 200-Day Moving Average is calculated to be 6.15.

Shares Statistics:

For the past three months, RNW has traded an average of 970.86K shares per day and 1.14M over the past ten days. A total of 393.89M 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 Jan 30, 2023 were 3.87M with a Short Ratio of 4.59M, compared to 6.09M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.00% and a Short% of Float of 3.69%.

Earnings Estimates

There are 2 different market analysts currently analyzing its stock. On average, analysts expect EPS of -$0.08 for the current quarter, with a high estimate of -$0.06 and a low estimate of -$0.11, while EPS last year was -$0.2. The consensus estimate for the next quarter is -$0.01, with high estimates of $0.05 and low estimates of -$0.08.

Analysts are recommending an EPS of between $0.16 and -$0.22 for the fiscal current year, implying an average EPS of -$0.06. EPS for the following year is $0.16, with 7 analysts recommending between $0.36 and $0.01.

Revenue Estimates

A total of 1 analysts believe the company’s revenue will be $194M this quarter.It ranges from a high estimate of $194M to a low estimate of $194M. As of the current estimate, ReNew Energy Global Plc’s year-ago sales were $181M, an estimated increase of 7.20% from the year-ago figure. For the next quarter, 1 analysts are estimating revenue of $220.3M, a decrease of -5.00% less than the figure of $7.20% in the same quarter last year. There is a high estimate of $220.3M for the next quarter, whereas the lowest estimate is $220.3M.

A total of 7 analysts have provided revenue estimates for RNW’s current fiscal year. The highest revenue estimate was $1.15B, while the lowest revenue estimate was $920.33M, resulting in an average revenue estimate of $1.01B. In the same quarter a year ago, actual revenue was $912M, up 10.40% from the average estimate. Based on 7 analysts’ estimates, the company’s revenue will be $1.32B in the next fiscal year. The high estimate is $1.56B and the low estimate is $1.18B. The average revenue growth estimate for next year is up 31.30% from the average revenue estimate for this year.