Renew (LON:RNWH) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Renew Holdings plc (LON:RNWH) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 900.38 and traded as low as GBX 888. Renew shares last traded at GBX 903, with a volume of 93,109 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Berenberg Bank restated a “buy” rating and set a GBX 1,320 target price on shares of Renew in a research note on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 1,220 price target on shares of Renew in a research note on Wednesday, May 13th. Finally, Shore Capital Group reissued a “buy” rating and issued a GBX 850 price target (down from GBX 1,350) on shares of Renew in a report on Wednesday, April 1st. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of GBX 1,172.50.

Renew Trading Up 0.6%

The company has a debt-to-equity ratio of 12.90, a quick ratio of 0.81 and a current ratio of 0.91. The stock has a market capitalization of £714.85 million, a price-to-earnings ratio of 16.92 and a beta of 0.76. The business has a fifty day simple moving average of GBX 887.96 and a 200 day simple moving average of GBX 900.38.

Renew (LON:RNWH) last posted its earnings results on Tuesday, May 12th. The company reported GBX 30.90 earnings per share for the quarter. The company had revenue of £574.29 million during the quarter. Renew had a return on equity of 17.24% and a net margin of 3.81%.

About Renew