Covestor Ltd Makes New Investment in ReNew Energy Global Plc (NASDAQ:RNW)

Covestor Ltd bought a new position in shares of ReNew Energy Global Plc (NASDAQ:RNW) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 21,847 shares of the company’s stock, valued at approximately $149,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Securities Group LLC purchased a new position in ReNew Energy Global in the 4th quarter valued at approximately $34,000. Signaturefd LLC acquired a new stake in ReNew Energy Global in the fourth quarter valued at $65,000. SG Americas Securities LLC purchased a new position in shares of ReNew Energy Global in the fourth quarter valued at $75,000. Ballentine Partners LLC acquired a new position in shares of ReNew Energy Global during the 4th quarter worth $107,000. Finally, Quadrant Capital Group LLC purchased a new stake in shares of ReNew Energy Global in the 4th quarter worth about $133,000. 43.56% of the stock is owned by institutional investors and hedge funds.

ReNew Energy Global Price Performance

RNW stock opened at $5.94 on Friday. The stock’s 50 day moving average price is $6.20 and its 200 day moving average price is $6.24. The firm has a market cap of $2.15 billion, a P/E ratio of 118.80 and a beta of 0.89. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.64 and a current ratio of 0.60. ReNew Energy Global Plc has a 1 year low of $5.15 and a 1 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). ReNew Energy Global had a net margin of 2.17% and a return on equity of 1.75%. The company had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $20.22 billion. On average, sell-side analysts expect that ReNew Energy Global Plc will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.