ReNew Energy Global Plc (NASDAQ:RNW) Short Interest Update

ReNew Energy Global Plc (NASDAQ:RNW) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 2,320,000 shares, a decline of 19.4% from the April 30th total of 2,880,000 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 822,900 shares, the short-interest ratio is presently 2.8 days.

ReNew Energy Global Stock Performance

Shares of NASDAQ:RNW remained flat at $6.75 during trading on Tuesday. The stock had a trading volume of 19,197 shares, compared to its average volume of 983,940. The firm’s 50-day simple moving average is $6.36 and its two-hundred day simple moving average is $6.43. ReNew Energy Global has a 52-week low of $5.15 and a 52-week high of $7.49. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 135.00 and a beta of 0.88. The company has a quick ratio of 0.64, a current ratio of 0.60 and a debt-to-equity ratio of 4.74.

Analyst Ratings Changes

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

Institutional Investors Weigh In On ReNew Energy Global

Institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in shares of ReNew Energy Global during the 4th quarter valued at about $25,000. BNP Paribas Financial Markets purchased a new stake in shares of ReNew Energy Global in the 4th quarter worth $25,000. Summit Securities Group LLC bought a new stake in shares of ReNew Energy Global in the 4th quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in ReNew Energy Global during the 4th quarter worth approximately $52,000. Finally, Signaturefd LLC purchased a new stake in shares of ReNew Energy Global in the 4th quarter valued at $65,000. 43.56% of the stock is owned by hedge funds and other institutional investors.

ReNew Energy Global Company Profile

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.