ReNew Energy Global Plc (NASDAQ:RNW) Short Interest Up 21.5% in February

ReNew Energy Global Plc (NASDAQ:RNW) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 2,150,000 shares, a growth of 21.5% from the February 13th total of 1,770,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is presently 1.6 days. Approximately 1.4% of the shares of the stock are sold short.

ReNew Energy Global Trading Up 2.1 %

Shares of RNW opened at $6.26 on Thursday. ReNew Energy Global has a fifty-two week low of $5.15 and a fifty-two week high of $7.49. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.64 and a current ratio of 0.60. The company’s fifty day moving average is $6.47 and its 200 day moving average is $6.28. The stock has a market capitalization of $2.27 billion, a PE ratio of 125.20 and a beta of 0.89.

ReNew Energy Global (NASDAQ:RNW) last posted its earnings results on Tuesday, February 18th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). ReNew Energy Global had a return on equity of 1.75% and a net margin of 2.17%. The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $20.22 billion. Sell-side analysts expect that ReNew Energy Global will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Roth Mkm reduced their target price on ReNew Energy Global from $8.00 to $7.50 and set a “buy” rating on the stock in a report on Friday, February 21st.

Hedge Funds Weigh In On ReNew Energy Global

Several large investors have recently modified their holdings of RNW. Franklin Resources Inc. increased its position in ReNew Energy Global by 191.4% during the fourth quarter. Franklin Resources Inc. now owns 5,693,312 shares of the company’s stock valued at $38,885,000 after acquiring an additional 3,739,645 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of ReNew Energy Global in the fourth quarter worth approximately $19,302,000. Helikon Investments Ltd bought a new stake in shares of ReNew Energy Global during the 4th quarter worth approximately $15,055,000. State of New Jersey Common Pension Fund D purchased a new position in ReNew Energy Global during the 4th quarter valued at $4,436,000. Finally, Norges Bank bought a new position in ReNew Energy Global in the 4th quarter valued at $4,107,000. Institutional investors own 43.56% of the company’s stock.

About ReNew Energy Global

ReNew Energy Global Plc generates power through non-conventional and renewable energy sources in India. The company operates through two segments: Wind Power and Solar Power. It develops, builds, owns, and operates utility scale wind and solar energy, hydro energy, and utility-scale firm power projects, as well as distributed solar energy projects that generate energy for commercial and industrial customers.