Alpine Global Management LLC Buys 125,000 Shares of ReNew Energy Global PLC $RNW

Key Points

• Alpine Global Management LLC increased its stake in ReNew Energy Global PLC by 86.2% during the 1st quarter, acquiring a total of 270,000 shares worth approximately $1.59 million.
• ReNew Energy Global reported earnings of $0.16 per share, exceeding expectations of $0.11, with a revenue of $480.35 million for the quarter.
• The company's shares opened at $7.61 and have seen a twelve-month range between $5.15 and $7.89, indicating significant stock performance volatility.

Alpine Global Management LLC grew its holdings in shares of ReNew Energy Global PLC (NASDAQ:RNW - Free Report) by 86.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,000 shares of the company's stock after purchasing an additional 125,000 shares during the period. Alpine Global Management LLC owned approximately 0.07% of ReNew Energy Global worth $1,590,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Millennium Management LLC grew its stake in shares of ReNew Energy Global by 8.9% in the fourth quarter. Millennium Management LLC now owns 5,169,576 shares of the company's stock worth $35,308,000 after acquiring an additional 420,831 shares in the last quarter. Invesco Ltd. raised its holdings in ReNew Energy Global by 16.8% in the 1st quarter. Invesco Ltd. now owns 2,476,280 shares of the company's stock valued at $14,585,000 after acquiring an additional 356,311 shares during the last quarter. Picton Mahoney Asset Management raised its stake in shares of ReNew Energy Global by 33.1% in the 1st quarter. Picton Mahoney Asset Management now owns 944,707 shares of the company's stock valued at $5,563,000 after acquiring an additional 234,696 shares during the period. Aperture Investors LLC grew its holdings in ReNew Energy Global by 18.7% during the 1st quarter. Aperture Investors LLC now owns 604,807 shares of the company's stock valued at $3,562,000 after purchasing an additional 95,471 shares in the last quarter. Finally, Tejara Capital Ltd grew its holdings in ReNew Energy Global by 115.8% during the 1st quarter. Tejara Capital Ltd now owns 564,209 shares of the company's stock worth $3,323,000 after acquiring an additional 302,769 shares in the last quarter. 43.56% of the stock is currently owned by institutional investors and hedge funds.

ReNew Energy Global Price Performance

ReNew Energy Global stock traded up $0.02 during trading hours on Wednesday, hitting $7.67. 878,163 shares of the company traded hands, compared to its average volume of 748,926. ReNew Energy Global PLC has a 1-year low of $5.15 and a 1-year high of $7.89. The firm has a market cap of $2.78 billion, a P/E ratio of 23.78 and a beta of 0.89. The firm's 50-day simple moving average is $7.53 and its two-hundred day simple moving average is $6.79. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 4.42.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.05. ReNew Energy Global had a net margin of 5.77% and a return on equity of 8.34%. The business had revenue of $480.35 million for the quarter, compared to the consensus estimate of $32.46 billion. As a group, analysts forecast that ReNew Energy Global PLC will post 0.15 earnings per share for the current fiscal 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.