ReNew Energy Global Plc (NASDAQ:RNW)’s traded shares stood at 1.54 million during the last session. At the close of trading, the stock’s price was $4.92, to imply a decrease of -1.20% or -$0.06 in intraday trading. The RNW share’s 52-week high remains $8.97, putting it -82.32% down since that peak but still an impressive 18.09% since price per share fell to its 52-week low of $4.03. The company has a valuation of $1.46B, with an average of 1.15 million shares in intraday trading volume over the past 10 days and average of 992.45K shares over the past 3 months.
ReNew Energy Global Plc (NASDAQ:RNW) trade information
After registering a -1.20% downside in the last session, ReNew Energy Global Plc (RNW) has traded red over the past five days. The stock hit a weekly high of 5.16 this Thursday, 03/16/23, dropping -1.20% in its intraday price action. The 5-day price performance for the stock is 4.02%, and -13.53% over 30 days. With these gigs, the year-to-date price performance is -10.55%. Short interest in ReNew Energy Global Plc (NASDAQ:RNW) saw shorts transact 3.87 million shares and set a 4.61 days time to cover.
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ReNew Energy Global Plc (RNW) estimates and forecasts
Looking at statistics comparing ReNew Energy Global Plc share performance against respective industry, we note that the company has outperformed competitors. ReNew Energy Global Plc (RNW) shares are -31.38% down over the last 6 months, with its year-to-date growth rate higher than industry average at 18.18% against -1.30%. Revenue is forecast to grow 60.00% this quarter before jumping 91.70% for the next one. The rating firms project that company’s revenue will grow 10.40% compared to the previous financial year.
Revenue forecast for the current quarter as set by 1 analysts is $194 million. Meanwhile, for the quarter ending Mar 2023, a total of 1 analyst(s) estimate revenue growth to $220.3 million.Earnings reports from the last fiscal year show that sales brought in $181 million and $232 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 7.20% before dropping -5.00% in the following quarter.
ReNew Energy Global Plc has its next earnings report out between June 12 and June 16. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. ReNew Energy Global Plc has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
ReNew Energy Global Plc (NASDAQ:RNW)’s Major holders
ReNew Energy Global Plc insiders hold 15.25% of total outstanding shares, with institutional holders owning 77.41% of the shares at 91.34% float percentage. In total, 77.41% institutions holds shares in the company, led by Canada Pension Plan Investment Board. As of Sep 29, 2022, the company held over 76.5 million shares (or 28.32% of shares), all amounting to roughly $460.54 million.
The next major institution holding the largest number of shares is Zimmer Partners, Lp with 10.14 million shares, or about 3.75% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $61.02 million.
We also have Invesco ETF TR II-Invesco Solar ETF and Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF as the top two Mutual Funds with the largest holdings of the ReNew Energy Global Plc (RNW) shares. Going by data provided on Dec 30, 2022, Invesco ETF TR II-Invesco Solar ETF holds roughly 2.56 million shares. This is just over 0.95% of the total shares, with a market valuation of $14.07 million. Data from the same date shows that the other fund manager holds a little less at 2.02 million, or 0.75% of the shares, all valued at about 11.13 million.