Renew (LON:RNWH) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

Renew Holdings plc (LON:RNWH)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 900.78 and traded as low as GBX 859. Renew shares last traded at GBX 877, with a volume of 2,338,655 shares changing hands.

Analyst Ratings Changes

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

Renew Stock Performance

The firm has a fifty day moving average of GBX 894.44 and a 200-day moving average of GBX 900.78. The stock has a market capitalization of £694.27 million, a price-to-earnings ratio of 16.43 and a beta of 0.76. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 12.90.

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

About Renew