47,976 Shares in ReNew Energy Global Plc (NASDAQ:RNW) Acquired by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC bought a new stake in ReNew Energy Global Plc (NASDAQ:RNW) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 47,976 shares of the company’s stock, valued at approximately $328,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in ReNew Energy Global by 40.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 699,905 shares of the company’s stock valued at $4,402,000 after buying an additional 202,100 shares in the last quarter. Rubric Capital Management LP lifted its stake in ReNew Energy Global by 1.5% in the 3rd quarter. Rubric Capital Management LP now owns 13,706,102 shares of the company’s stock valued at $86,211,000 after buying an additional 200,000 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in ReNew Energy Global by 21.3% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 888,831 shares of the company’s stock valued at $5,591,000 after buying an additional 156,147 shares in the last quarter. Franklin Resources Inc. purchased a new stake in ReNew Energy Global in the 3rd quarter valued at approximately $11,585,000. Finally, The Manufacturers Life Insurance Company lifted its stake in ReNew Energy Global by 33.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,118,181 shares of the company’s stock valued at $7,033,000 after buying an additional 281,000 shares in the last quarter. Hedge funds and other institutional investors own 43.56% of the company’s stock.

Wall Street Analyst Weigh In

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 research note on Friday, February 21st.

ReNew Energy Global Trading Up 1.1 %

Shares of ReNew Energy Global stock opened at $6.18 on Tuesday. ReNew Energy Global Plc has a fifty-two week low of $5.15 and a fifty-two week high of $7.49. The firm has a market cap of $2.24 billion, a PE ratio of 123.60 and a beta of 0.89. The business’s fifty day moving average is $6.50 and its two-hundred day moving average is $6.27. The company has a quick ratio of 0.64, a current ratio of 0.60 and a debt-to-equity ratio of 4.74.

ReNew Energy Global (NASDAQ:RNW) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $20.22 billion. Analysts anticipate that ReNew Energy Global Plc will post 0.15 earnings per share for the current year.

ReNew Energy Global 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.