Goldman Sachs Group Inc. Sells 173,281 Shares of ReNew Energy Global PLC $RNW

Key Points

• Goldman Sachs Group Inc. reduced its stake in ReNew Energy Global PLC by 53.7%, selling 173,281 shares in the first quarter, leaving it with 149,322 shares valued at approximately $880,000.
• Institutional investors own 43.56% of ReNew Energy Global, with several firms, including Point72 Asset Management and BNP Paribas Financial Markets, recently acquiring stakes valued at around $25,000 each.
• ReNew Energy Global reported earnings of $0.16 per share for the last quarter, surpassing expectations, with revenue of $480.35 million compared to an estimate of $32.46 billion.

Goldman Sachs Group Inc. trimmed its stake in ReNew Energy Global PLC (NASDAQ:RNW - Free Report) by 53.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 149,322 shares of the company's stock after selling 173,281 shares during the period. Goldman Sachs Group Inc.'s holdings in ReNew Energy Global were worth $880,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RNW. Point72 Asset Management L.P. purchased a new stake in shares of ReNew Energy Global during the fourth quarter valued at approximately $25,000. BNP Paribas Financial Markets purchased a new stake in shares of ReNew Energy Global during the fourth quarter valued at approximately $25,000. MQS Management LLC purchased a new stake in shares of ReNew Energy Global during the first quarter valued at approximately $83,000. Signaturefd LLC boosted its stake in shares of ReNew Energy Global by 81.6% during the first quarter. Signaturefd LLC now owns 17,245 shares of the company's stock valued at $102,000 after purchasing an additional 7,749 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of ReNew Energy Global during the first quarter valued at approximately $104,000. 43.56% of the stock is currently owned by institutional investors.

ReNew Energy Global Stock Performance

Shares of ReNew Energy Global stock opened at $7.84 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 4.42. The firm has a market capitalization of $2.84 billion, a P/E ratio of 24.50 and a beta of 0.89. The business has a fifty day simple moving average of $7.64 and a two-hundred day simple moving average of $6.92. ReNew Energy Global PLC has a 12 month low of $5.15 and a 12 month high of $7.89.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. ReNew Energy Global had a return on equity of 8.34% and a net margin of 5.77%.The firm had revenue of $480.35 million during the quarter, compared to the consensus estimate of $32.46 billion. On average, equities 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.

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