Renew (LON:RNWH) Stock Passes 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 Thursday . The stock has a 200-day moving average of GBX 898.18 and traded as low as GBX 864. Renew shares last traded at GBX 865, with a volume of 3,048,679 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Shore Capital Group restated a “buy” rating and set a GBX 1,350 price objective on shares of Renew in a report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft raised their target price on Renew from GBX 1,200 to GBX 1,220 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Berenberg Bank reissued a “buy” rating and issued a GBX 1,200 price target on shares of Renew in a report on Tuesday, November 25th. Finally, Peel Hunt restated a “buy” rating and issued a GBX 1,300 price objective on shares of Renew in a research note on Friday, December 26th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of GBX 1,267.50.

Renew Stock Performance

The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 11.50. The firm has a market capitalization of £684.77 million, a price-to-earnings ratio of 14.03 and a beta of 0.77. The stock has a fifty day moving average price of GBX 917.69 and a 200-day moving average price of GBX 898.18.

About Renew