RNW Should I Buy
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ReNew Energy Global PLC (RNW) is not a strong buy at the moment for a beginner, long-term investor with $50,000-$100,000 available for investment. While the company has shown strong revenue growth, its significant net income and EPS decline, combined with hedge fund selling and lack of recent positive news or catalysts, suggest a cautious approach. The technical indicators and options data do not provide a compelling entry point, and the stock's recent price action has been relatively neutral.
The MACD is slightly positive at 0.00893, indicating weak bullish momentum, but it is contracting. RSI is neutral at 40.761, showing no clear overbought or oversold conditions. Moving averages are converging, suggesting a lack of strong directional momentum. Key support is at $5.337, and resistance is at $5.57. The stock is trading near its support level, but there is no strong indication of a breakout or reversal.
Revenue increased by 36.10% YoY in Q3 2026, and gross margin improved by 7.03% YoY, indicating operational efficiency.
Net income dropped significantly by 94.90% YoY, and EPS declined by 94.95% YoY. Hedge funds are selling heavily, with a 494.17% increase in selling activity over the last quarter. No recent news or significant events to drive positive sentiment. Analysts have lowered price targets recently, reflecting reduced confidence.
In Q3 2026, revenue grew by 36.10% YoY to $25.14 billion, but net income fell to -$198 million, a 94.90% decline YoY. EPS also dropped significantly to -0.54, down 94.95% YoY. Gross margin improved to 61.79%, up 7.03% YoY, indicating better cost management.
Analysts' sentiment is mixed. Morgan Stanley has an Equal Weight rating with a $6.03 price target. Roth Capital and Mizuho have lowered price targets recently due to the withdrawal of Masdar from a take-private consortium, which caused a significant selloff. Analysts believe the selloff was overdone but remain cautious with Neutral and Buy ratings.
