Fox Run Management L.L.C. Purchases New Position in ReNew Energy Global Plc (NASDAQ:RNW)

Fox Run Management L.L.C. acquired a new position 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 fund acquired 51,893 shares of the company’s stock, valued at approximately $354,000.

Several other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in ReNew Energy Global by 40.6% during the third 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 purchasing an additional 202,100 shares in the last quarter. Rubric Capital Management LP raised its position in shares of ReNew Energy Global by 1.5% during 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. Franklin Resources Inc. bought a new position in shares of ReNew Energy Global in the 3rd quarter valued at about $11,585,000. The Manufacturers Life Insurance Company grew its position in ReNew Energy Global by 33.6% in the third quarter. The Manufacturers Life Insurance Company now owns 1,118,181 shares of the company’s stock worth $7,033,000 after acquiring an additional 281,000 shares in the last quarter. Finally, Silphium Asset Management Ltd bought a new stake in ReNew Energy Global during the fourth quarter worth approximately $2,049,000. 43.56% of the stock is owned by hedge funds and other institutional investors.

ReNew Energy Global Trading Down 1.4 %

RNW stock opened at $6.15 on Thursday. ReNew Energy Global Plc has a twelve month low of $5.15 and a twelve month high of $7.49. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 123.00 and a beta of 0.89. The company has a quick ratio of 0.64, a current ratio of 0.60 and a debt-to-equity ratio of 4.74. The firm’s fifty day simple moving average is $6.42 and its two-hundred day simple moving average is $6.29.

ReNew Energy Global (NASDAQ:RNW) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The firm had revenue of $248.00 million for the quarter, compared to the consensus estimate of $20.22 billion. ReNew Energy Global had a net margin of 2.17% and a return on equity of 1.75%. As a group, analysts anticipate that ReNew Energy Global Plc will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.