The Renewables Infrastructure Group (LON:TRIG) Shares Pass Below 50 Day Moving Average - Time to Sell?

Key Points

• The Renewables Infrastructure Group Limited's shares fell below their 50-day moving average of GBX 76.37, trading at a low of GBX 76.10.
• Royal Bank Of Canada downgraded the stock's price target from GBX 110 to GBX 100 while maintaining an "outperform" rating, reflecting a consensus target price of GBX 100 among analysts.
• The company, with a market capitalization of £1.83 billion, is focused on generating sustainable returns through investments in operational wind farms, solar parks, and battery storage projects across the UK and Europe.

The Renewables Infrastructure Group Limited (LON:TRIG - Get Free Report) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 76.37 ($1.02) and traded as low as GBX 76.10 ($1.02). The Renewables Infrastructure Group shares last traded at GBX 76.80 ($1.03), with a volume of 4,881,452 shares changing hands.

Wall Street Analysts Forecast Growth

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

The Renewables Infrastructure Group Trading Down 1.0%

The stock has a 50 day simple moving average of GBX 76.37 and a 200 day simple moving average of GBX 80.36. The firm has a market capitalization of £1.83 billion, a PE ratio of -8.64 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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