Alpine Global Management LLC Increases Holdings in 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 lifted its holdings in ReNew Energy Global PLC (NASDAQ:RNW - Free Report) by 86.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 270,000 shares of the company's stock after buying 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 reporting period.

Other hedge funds also recently modified their holdings of the company. Millennium Management LLC grew its position in shares of ReNew Energy Global by 8.9% during the 4th quarter. Millennium Management LLC now owns 5,169,576 shares of the company's stock valued at $35,308,000 after purchasing an additional 420,831 shares in the last quarter. Invesco Ltd. lifted its stake in ReNew Energy Global by 16.8% in the first quarter. Invesco Ltd. now owns 2,476,280 shares of the company's stock worth $14,585,000 after purchasing an additional 356,311 shares during the last quarter. Fiera Capital Corp bought a new stake in ReNew Energy Global in the first quarter worth $1,865,000. Groupe la Francaise bought a new position in shares of ReNew Energy Global during the first quarter valued at about $1,892,000. Finally, Tejara Capital Ltd raised its stake in ReNew Energy Global by 115.8% in the first quarter. Tejara Capital Ltd now owns 564,209 shares of the company's stock worth $3,323,000 after buying an additional 302,769 shares in the last quarter. Institutional investors own 43.56% of the company's stock.

ReNew Energy Global Trading Up 2.0%

RNW stock traded up $0.16 during trading on Friday, reaching $7.80. The company had a trading volume of 387,240 shares, compared to its average volume of 962,057. ReNew Energy Global PLC has a 52 week low of $5.15 and a 52 week high of $7.89. The company has a market cap of $2.83 billion, a P/E ratio of 24.36 and a beta of 0.89. The business has a 50 day moving average of $7.54 and a 200 day moving average of $6.80. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.77 and a quick ratio of 0.73.

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

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.