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

ReNew Energy Global Plc (NASDAQ:RNW) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,150,000 shares, an increase of 21.5% from the February 13th total of 1,770,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the short-interest ratio is currently 1.6 days. Approximately 1.4% of the company’s shares are short sold.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On ReNew Energy Global

Several hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. bought a new position in shares of ReNew Energy Global during the fourth quarter valued at about $25,000. BNP Paribas Financial Markets bought a new position in ReNew Energy Global in the fourth quarter worth about $25,000. Hsbc Holdings PLC raised its stake in ReNew Energy Global by 40.3% in the fourth quarter. Hsbc Holdings PLC now owns 16,710 shares of the company’s stock worth $115,000 after buying an additional 4,799 shares in the last quarter. Summit Securities Group LLC bought a new position in ReNew Energy Global in the fourth quarter worth about $34,000. Finally, Everett Harris & Co. CA raised its stake in ReNew Energy Global by 14.3% in the fourth quarter. Everett Harris & Co. CA now owns 40,000 shares of the company’s stock worth $273,000 after buying an additional 5,000 shares in the last quarter. 43.56% of the stock is owned by institutional investors.

ReNew Energy Global Trading Down 0.8 %

Shares of NASDAQ:RNW traded down $0.05 during midday trading on Tuesday, hitting $6.13. 360,192 shares of the stock traded hands, compared to its average volume of 1,030,771. The stock has a market capitalization of $2.22 billion, a PE ratio of 122.60 and a beta of 0.89. The business’s 50 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 has a one year low of $5.15 and a one year high of $7.49.

ReNew Energy Global (NASDAQ:RNW) last issued its quarterly earnings data 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, research analysts forecast that ReNew Energy Global will post 0.15 earnings per share for the current year.

About ReNew Energy Global

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.