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

Renew Holdings plc (LON:RNWH)’s stock price passed 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 traded.

Wall Street Analysts Forecast Growth

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

Renew Price Performance

The company has a debt-to-equity ratio of 12.90, a current ratio of 0.91 and a quick ratio of 0.81. The stock’s fifty day simple moving average is GBX 892.02 and its 200-day simple moving average is GBX 900.45. The company has a market capitalization of £700.60 million, a P/E ratio of 16.58 and a beta of 0.76.

Renew (LON:RNWH) last issued its quarterly earnings results on Tuesday, May 12th. The company reported GBX 30.90 earnings per share (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