ReNew Energy Global Plc (NASDAQ:RNW – Get Free Report) saw an uptick in trading volume on Monday . 2,449,463 shares traded hands during mid-day trading, an increase of 177% from the previous session’s volume of 884,872 shares.The stock last traded at $6.05 and had previously closed at $5.98.
Analyst Upgrades and Downgrades
Separately, Roth Mkm reaffirmed a “buy” rating and issued a $9.00 target price (up from $8.00) on shares of ReNew Energy Global in a research note on Friday, June 7th.
View Our Latest Report on ReNew Energy Global
ReNew Energy Global Price Performance
ReNew Energy Global (NASDAQ:RNW – Get Free Report) last announced its earnings results on Wednesday, June 5th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.08. The company had revenue of $297.00 million during the quarter, compared to analyst estimates of $243.45 million. ReNew Energy Global had a net margin of 4.17% and a return on equity of 3.36%. Equities analysts expect that ReNew Energy Global Plc will post 0.13 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. Sylebra Capital LLC purchased a new stake in shares of ReNew Energy Global in the 3rd quarter valued at about $13,962,000. Swedbank AB acquired a new stake in shares of ReNew Energy Global during the 1st quarter valued at approximately $4,814,000. Rubric Capital Management LP raised its position in ReNew Energy Global by 5.3% during the fourth quarter. Rubric Capital Management LP now owns 10,420,000 shares of the company’s stock worth $79,817,000 after acquiring an additional 522,574 shares during the last quarter. TT International Asset Management LTD acquired a new stake in ReNew Energy Global in the 4th quarter worth about $2,097,000. Finally, Fiera Capital Corp purchased a new stake in ReNew Energy Global in the fourth quarter valued at approximately $1,567,000. 43.56% of the stock is currently 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.
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