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

Renew Holdings plc (LON:RNWH)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 906.30 and traded as low as GBX 860. Renew shares last traded at GBX 868, with a volume of 213,267 shares trading hands.

Wall Street Analysts Forecast Growth

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

Renew Trading Down 0.9%

The stock has a market capitalization of £687.14 million, a price-to-earnings ratio of 16.26 and a beta of 0.89. 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 business’s 50-day simple moving average is GBX 902.77 and its two-hundred day simple moving average is GBX 906.30.

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

About Renew