ReNew Energy Global (RNW) Stock Price, News & Analysis

Company Overview

ReNew Energy Global Plc generates power through non-conventional and renewable energy sources in India. The company operates through two segments: Wind Power and Solar Power. It develops, builds, owns, and operates utility scale wind and solar energy, hydro energy, and utility-scale firm power projects, as well as distributed solar energy projects that generate energy for commercial and industrial customers. The company provides engineering, procurement, and construction services; operation and maintenance services; consultancy services; and sells renewable energy certificates. ReNew Energy Global Plc was founded in 2011 and is based in London, the United Kingdom.

Key Stats

• Today's Range: $5.30 to $5.44
• 50-Day Range: $5.22 to $6.62
• 52-Week Range: $5.15 to $7.79
• Volume: 680,415 shs
• Average Volume: 661,669 shs
• Market Capitalization: $1.95 billion
• P/E Ratio: 179.67
• Dividend Yield: N/A
• Price Target: $8.67
• Consensus Rating: Moderate Buy

ReNew Energy Global Stock Analysis - MarketRank™

ReNew Energy Global scored higher than 66% of companies evaluated by MarketBeat, and ranked 129th out of 265 stocks in the oils/energy sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

ReNew Energy Global has received a consensus rating of Moderate Buy. The company's average rating score is 2.75, and is based on 3 buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

ReNew Energy Global has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: 125.00%

Earnings Growth

Earnings for ReNew Energy Global are expected to grow by 125.00% in the coming year, from $0.12 to $0.27 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of ReNew Energy Global is 179.67, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 110.87.

Price to Earnings Ratio vs. Sector

The P/E ratio of ReNew Energy Global is 179.67, which means that it is trading at a more expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 11.02.

Price to Book Value per Share Ratio

ReNew Energy Global has a P/B Ratio of 1.34. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

4.44% of the float of ReNew Energy Global has been sold short.

Short Interest Ratio / Days to Cover

ReNew Energy Global has a short interest ratio ("days to cover") of 8.5.

Change versus previous month

Short interest in ReNew Energy Global has recently increased by 2.66%, indicating that investor sentiment is decreasing.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

ReNew Energy Global does not currently pay a dividend.

Dividend Growth

ReNew Energy Global does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

4.44% of the float of ReNew Energy Global has been sold short.

Short Interest Ratio / Days to Cover

ReNew Energy Global has a short interest ratio ("days to cover") of 8.5.

Change versus previous month

Short interest in ReNew Energy Global has recently increased by 2.66%, indicating that investor sentiment is decreasing.

News and Social Media

• Score: 3.9 / 5
• News Sentiment: 1.10

News Sentiment

ReNew Energy Global has a news sentiment score of 1.10. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.59 average news sentiment score of Oils/Energy companies.

News Coverage This Week

MarketBeat has tracked 4 news articles for ReNew Energy Global this week, compared to 2 articles on an average week.

Search Interest

2 people have searched for RNW on MarketBeat in the last 30 days. This is an increase of 100% compared to the previous 30 days.

MarketBeat Follows

3 people have added ReNew Energy Global to their MarketBeat watchlist in the last 30 days. This is an increase of 200% compared to the previous 30 days.

Company Ownership

• Score: 0.8 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, ReNew Energy Global insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 8.65% of the stock of ReNew Energy Global is held by insiders.

Percentage Held by Institutions

43.56% of the stock of ReNew Energy Global is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

RNW Stock Analysis - Frequently Asked Questions

How have RNW shares performed this year?

ReNew Energy Global's stock was trading at $7.66 at the start of the year. Since then, RNW shares have decreased by 29.6% and is now trading at $5.39.
View the best growth stocks for 2024 here.

How were ReNew Energy Global's earnings last quarter?

ReNew Energy Global Plc (NASDAQ:RNW) released its earnings results on Tuesday, February, 20th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by $0.01. The business earned $232 million during the quarter, compared to analysts' expectations of $195.90 million. ReNew Energy Global had a net margin of 1.53% and a trailing twelve-month return on equity of 1.23%.

Who are ReNew Energy Global's major shareholders?

Top institutional investors of ReNew Energy Global include Rubric Capital Management LP (3.78%), Carrhae Capital LLP (0.98%), Northwest & Ethical Investments L.P. (0.60%) and Daymark Wealth Partners LLC (0.36%).

How do I buy shares of ReNew Energy Global?

Shares of RNW stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of ReNew Energy Global own?

Based on aggregate information from My MarketBeat watchlists, some other companies that ReNew Energy Global investors own include NVIDIA (NVDA), Meta Platforms (META), Advanced Micro Devices (AMD), Broadcom (AVGO), Arista Networks (ANET), CrowdStrike (CRWD) and Super Micro Computer (SMCI).

Company Calendar

• Last Earnings: 2/20/2024
• Today: 11/17/2024
• Next Earnings (Confirmed): 11/19/2024
• Fiscal Year End: 3/31/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Oils/Energy
• Industry: Electric services
• Sub-Industry: Utilities
• Current Symbol: NASDAQ:RNW
• CUSIP: N/A
• CIK: 1848763
• Web: www.rmgacquisition.com
• Phone: 124-489-6670
• Fax: N/A
• Employees: 3,988
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $8.67
• High Stock Price Target: $10.00
• Low Stock Price Target: $8.00
• Potential Upside/Downside: +60.8%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.75
• Research Coverage: 4 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $0.03
• Trailing P/E Ratio: 179.67
• Forward P/E Ratio: 44.92
• P/E Growth: N/A
• Net Income: $41 million
• Net Margins: 1.53%
• Pretax Margin: 6.14%
• Return on Equity: 1.23%
• Return on Assets: 0.17%

Debt

• Debt-to-Equity Ratio: 4.65
• Current Ratio: 0.67
• Quick Ratio: 0.66

Sales & Book Value

• Annual Sales: $1.16 billion
• Price / Sales: 1.69
• Cash Flow: $0.72 per share
• Price / Cash Flow: 7.49
• Book Value: $4.03 per share
• Price / Book: 1.34

Miscellaneous

• Outstanding Shares: 362,630,000
• Free Float: 331,263,000
• Market Cap: $1.95 billion
• Optionable: Optionable
• Beta: 0.95