Groupe la Francaise Acquires New Holdings in ReNew Energy Global PLC $RNW

Key Points

• Groupe la Francaise acquired a new stake in ReNew Energy Global PLC, purchasing 316,309 shares valued at approximately $1.89 million during the first quarter.
• ReNew Energy Global reported earnings of $0.16 EPS for the quarter, exceeding analysts' expectations of $0.11.
• The company's current market capitalization stands at $2.83 billion with a PE ratio of 24.34 and a debt-to-equity ratio of 4.42.

Groupe la Francaise purchased a new position in ReNew Energy Global PLC (NASDAQ:RNW - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 316,309 shares of the company's stock, valued at approximately $1,892,000. Groupe la Francaise owned about 0.09% of ReNew Energy Global at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in ReNew Energy Global in the 4th quarter worth $25,000. BNP Paribas Financial Markets acquired a new stake in shares of ReNew Energy Global during the 4th quarter valued at about $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of ReNew Energy Global during the 4th quarter valued at about $52,000. MQS Management LLC acquired a new stake in shares of ReNew Energy Global during the 1st quarter valued at about $83,000. Finally, Bank of America Corp DE boosted its position in shares of ReNew Energy Global by 722.2% during the 4th quarter. Bank of America Corp DE now owns 15,621 shares of the company's stock valued at $107,000 after acquiring an additional 13,721 shares in the last quarter. 43.56% of the stock is currently owned by institutional investors and hedge funds.

ReNew Energy Global Price Performance

Shares of ReNew Energy Global stock traded up $0.09 during trading on Friday, hitting $7.61. 618,666 shares of the company's stock traded hands, compared to its average volume of 756,186. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.77 and a quick ratio of 0.73. The firm's fifty day moving average price is $7.47 and its 200 day moving average price is $6.77. ReNew Energy Global PLC has a twelve month low of $5.15 and a twelve month high of $7.89. The company has a market cap of $2.76 billion, a PE ratio of 23.78 and a beta of 0.89.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $480.35 million during the quarter, compared to the consensus estimate of $32.46 billion. Analysts forecast 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.