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

Renew Holdings plc (LON:RNWH) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 909.10 and traded as low as GBX 875. Renew shares last traded at GBX 883.06, with a volume of 5,714,315 shares.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 1,220 price target on shares of Renew in a report on Wednesday, May 13th. Finally, Berenberg Bank restated a “buy” rating and issued a GBX 1,320 target price on shares of Renew in a report on Wednesday, April 1st. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, Renew has a consensus rating of “Buy” and a consensus target price of GBX 1,172.50.

Renew Stock Performance

The stock has a market cap of £701.39 million, a price-to-earnings ratio of 14.37 and a beta of 0.89. The stock’s 50 day moving average is GBX 901.34 and its two-hundred day moving average is GBX 908.68. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 12.90.

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

About Renew