The Renewables Infrastructure Group (LON:TRIG) Share Price Passes Below 50-Day Moving Average - Here's Why

Key Points

• The Renewables Infrastructure Group (LON:TRIG) saw its share price drop below the fifty day moving average of GBX 85.61, trading as low as GBX 77.60.
• Royal Bank Of Canada has revised its target price for TRIG from GBX 110 to GBX 100 while maintaining an "outperform" rating.
• The company has a market capitalization of £1.94 billion and an average rating of "Buy" with a target price of GBX 100, according to MarketBeat.

The Renewables Infrastructure Group Limited (LON:TRIG - Get Free Report) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 85.61 ($1.16) and traded as low as GBX 77.60 ($1.05). The Renewables Infrastructure Group shares last traded at GBX 78.90 ($1.07), with a volume of 3,173,864 shares.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada lowered their price target 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 equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of GBX 100.

The Renewables Infrastructure Group Trading Up 0.6%

The firm has a market capitalization of £1.95 billion, a PE ratio of -52.34 and a beta of 0.22. The business has a 50 day moving average price of GBX 85.41 and a 200-day moving average price of GBX 79.98.

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.