The Renewables Infrastructure Group (LON:TRIG) Stock Passes Below Fifty Day Moving Average - What's Next?

Key Points

• The Renewables Infrastructure Group Limited's stock (LON:TRIG) has fallen below its fifty-day moving average, currently trading at GBX 75.20 ($1.01), against a fifty-day moving average of GBX 79.41 ($1.06).
• Royal Bank of Canada has downgraded its price target for TRIG from GBX 110 to GBX 100, while the stock holds a consensus rating of "Buy" with a target price of GBX 100.
• With a market capitalization of £1.81 billion, TRIG aims to generate sustainable returns from its diversified portfolio, which includes operational wind farms and solar parks in the UK and Europe.

The Renewables Infrastructure Group Limited (LON:TRIG - Get Free Report) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 79.41 ($1.06) and traded as low as GBX 74.80 ($1.00). The Renewables Infrastructure Group shares last traded at GBX 75.20 ($1.01), with a volume of 4,226,326 shares traded.

Analyst Upgrades and Downgrades

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

The Renewables Infrastructure Group Price Performance

The firm has a market capitalization of £1.81 billion, a price-to-earnings ratio of -854.55 and a beta of 0.22. The business's fifty day simple moving average is GBX 79.41 and its 200 day simple moving average is GBX 79.97.

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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