ReNew Energy Global (NASDAQ:RNW) Earns “Buy” Rating from Roth Mkm

Roth Mkm reiterated their buy rating on shares of ReNew Energy Global (NASDAQ:RNW) in a research note released on Friday morning, Benzinga reports. Roth Mkm currently has a $9.00 target price on the stock, up from their previous target price of $8.00.

ReNew Energy Global Price Performance

RNW stock opened at $6.20 on Friday. The company has a fifty day moving average price of $5.90 and a 200-day moving average price of $6.42. The company has a market capitalization of $2.31 billion, a P/E ratio of 51.67 and a beta of 0.92. ReNew Energy Global has a 52-week low of $4.78 and a 52-week high of $7.79. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.84 and a current ratio of 0.73.

Hedge Funds Weigh In On ReNew Energy Global

Large investors have recently modified their holdings of the business. Pale Fire Capital SE bought a new position in shares of ReNew Energy Global during the third quarter valued at $54,000. Dynamic Technology Lab Private Ltd bought a new position in shares of ReNew Energy Global during the fourth quarter valued at $113,000. Everett Harris & Co. CA bought a new position in ReNew Energy Global during the first quarter worth $90,000. Vanguard Personalized Indexing Management LLC acquired a new position in ReNew Energy Global in the third quarter valued at $90,000. Finally, Victory Capital Management Inc. acquired a new position in ReNew Energy Global in the fourth quarter valued at $136,000. Institutional investors own 43.56% of the company’s stock.

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.