ReNew Energy Global Plc (RNW) is 4.37% away from 50-day simple Moving Average despite all headwinds

A new trading day began on January 24, 2023, with ReNew Energy Global Plc (NASDAQ: RNW) stock priced at $6.25, down -3.03% from the previous day of trading. During the day, the shares moved up to $6.30 and dropped to $6.08 before settling in for the closing price of $6.28. RNW’s price has ranged from $5.02 to $8.97 over the past 52 weeks.

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Meanwhile, its annual earnings per share averaged -142.40%. With a float of $93.08 million, this company’s outstanding shares have now reached $392.26 million.

In an organization with 1675 employees, it is important to assess its efficiency. In terms of profitability, gross margin is +68.80, operating margin of +35.04, and the pretax margin is -20.59.

ReNew Energy Global Plc (RNW) Insider and Institutional Ownership

As we move forward, let’s examine how large-scale investors are investing in this stock of the Utilities – Renewable Industry. The insider ownership of ReNew Energy Global Plc is 15.25%, while institutional ownership is 77.70%.

ReNew Energy Global Plc (RNW) Latest Financial update

In its latest quarterly report, released on 9/29/2022, the company reported earnings of -$0.03 per share, which was $0.1 lower than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). This company achieved a net margin of -27.11 while generating a return on equity of -13.70. Wall Street market experts anticipate that the next fiscal year will bring earnings of -0.01 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around -142.40% per share during the next fiscal year.

ReNew Energy Global Plc (NASDAQ: RNW) Trading Performance Indicators

Here are ReNew Energy Global Plc’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 1.20. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 2.02.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -0.47, a number that is poised to hit -0.08 in the next quarter and is forecasted to reach 0.17 in one year’s time.

Technical Analysis of ReNew Energy Global Plc (RNW)

Let’s dig in a bit further. During the last 5-days, its volume was 1.03 million. That was better than the volume of 0.86 million it reported in year-ago period. As of the previous 9 days, the stock’s Stochastic %D was 66.14%. Additionally, its Average True Range was 0.29.

During the past 100 days, ReNew Energy Global Plc’s (RNW) raw stochastic average was set at 46.32%, which indicates a significant decrease from 68.40% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 41.07% in the past 14 days, which was lower than the 54.96% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $5.83, while its 200-day Moving Average is $6.52. However, in the short run, ReNew Energy Global Plc’s stock first resistance to watch stands at $6.23. Second resistance stands at $6.38. The third major resistance level sits at $6.45. If the price goes on to break the first support level at $6.01, it is likely to go to the next support level at $5.94. The third support level lies at $5.79 if the price breaches the second support level.

ReNew Energy Global Plc (NASDAQ: RNW) Key Stats

With a market capitalization of 1.71 billion, the company has a total of 400,833K Shares Outstanding. Currently, annual sales are 912,000 K while annual income is -211,000 K. The company’s previous quarter sales were 275,000 K while its latest quarter income was -12,000 K.

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