The Renewables Infrastructure Group (LON:TRIG) Shares Pass Below 50-Day Moving Average - Here's What Happened

Key Points

• The Renewables Infrastructure Group's shares fell below their 50-day moving average, trading at GBX 75.90, with a volume of over 5 million shares on Wednesday.
• Royal Bank of Canada lowered its target price for the stock from GBX 110 to GBX 100, while maintaining an "outperform" rating.
• The company focuses on sustainable returns through a diversified portfolio of operational wind farms, solar parks, and battery storage projects aimed at contributing to a net zero carbon future.

The Renewables Infrastructure Group Limited (LON:TRIG - Get Free Report)'s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 77.50 ($1.04) and traded as low as GBX 75.30 ($1.01). The Renewables Infrastructure Group shares last traded at GBX 75.90 ($1.02), with a volume of 5,075,149 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada reduced their target price on The Renewables Infrastructure Group from GBX 110 to GBX 100 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, The Renewables Infrastructure Group currently has an average rating of "Buy" and a consensus target price of GBX 100.

The Renewables Infrastructure Group Trading Up 0.1%

The stock's fifty day moving average price is GBX 77.50 and its 200 day moving average price is GBX 80.23. The stock has a market cap of £1.82 billion, a P/E ratio of -863.64 and a beta of 0.22.

About The Renewables Infrastructure Group

TRIG is an investment company whose purpose is to generate sustainable returns from a diversified portfolio of renewables infrastructure that contribute towards a net zero carbon future. TRIG's diversified portfolio predominantly consists of operational wind farms, solar parks and battery storage projects in the UK and Europe.

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