Cubist Systematic Strategies LLC Purchases Shares of 243,385 ReNew Energy Global Plc (NASDAQ:RNW)

Cubist Systematic Strategies LLC purchased a new stake in ReNew Energy Global Plc (NASDAQ:RNW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 243,385 shares of the company's stock, valued at approximately $1,662,000. Cubist Systematic Strategies LLC owned about 0.07% of ReNew Energy Global at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Franklin Resources Inc. raised its stake in ReNew Energy Global by 191.4% during the 4th quarter. Franklin Resources Inc. now owns 5,693,312 shares of the company's stock worth $38,885,000 after buying an additional 3,739,645 shares during the period. Walleye Capital LLC acquired a new position in ReNew Energy Global during the 4th quarter worth approximately $19,302,000. Northwest & Ethical Investments L.P. raised its stake in ReNew Energy Global by 6.3% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,296,800 shares of the company's stock worth $15,687,000 after buying an additional 135,606 shares during the period. Helikon Investments Ltd acquired a new position in ReNew Energy Global during the 4th quarter worth approximately $15,055,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in ReNew Energy Global during the 4th quarter worth approximately $4,436,000. Institutional investors own 43.56% of the company's stock.

Analyst Upgrades and Downgrades

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 Stock Performance

RNW stock opened at $6.61 on Tuesday. The firm has a market cap of $2.40 billion, a PE ratio of 132.20 and a beta of 0.88. 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 business has a 50 day moving average of $6.16 and a 200-day moving average of $6.30. ReNew Energy Global Plc has a 12-month low of $5.15 and a 12-month high of $7.49.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.11) earnings per share 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 firm had revenue of $248.00 million for the quarter, compared to the consensus estimate of $20.22 billion. As a group, sell-side analysts expect that ReNew Energy Global Plc will post 0.15 earnings per share for the current year.

ReNew Energy Global 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.

Want to see what other hedge funds are holding RNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ReNew Energy Global Plc (NASDAQ:RNW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.