ReNew Energy Global PLC $RNW Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in ReNew Energy Global PLC by 16.8% during Q1, purchasing an additional 356,311 shares, bringing its total shares to 2,476,280.
• ReNew Energy Global reported earnings of $0.16 per share for the last quarter, surpassing analysts' expectations of $0.11, with a revenue of $480.35 million.
• Institutional investors collectively own 43.56% of ReNew Energy Global's stock, indicating significant interest from large financial entities.

Invesco Ltd. boosted its stake in shares of ReNew Energy Global PLC (NASDAQ:RNW - Free Report) by 16.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,476,280 shares of the company's stock after acquiring an additional 356,311 shares during the quarter. Invesco Ltd. owned about 0.68% of ReNew Energy Global worth $14,585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. XTX Topco Ltd lifted its holdings in shares of ReNew Energy Global by 58.3% in the 1st quarter. XTX Topco Ltd now owns 53,721 shares of the company's stock valued at $316,000 after buying an additional 19,788 shares during the period. Fiera Capital Corp purchased a new position in ReNew Energy Global during the first quarter worth $1,865,000. Picton Mahoney Asset Management increased its position in ReNew Energy Global by 33.1% during the first quarter. Picton Mahoney Asset Management now owns 944,707 shares of the company's stock worth $5,563,000 after buying an additional 234,696 shares in the last quarter. Carrera Capital Advisors purchased a new position in ReNew Energy Global during the first quarter worth $737,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in ReNew Energy Global during the first quarter worth $104,000. 43.56% of the stock is owned by institutional investors and hedge funds.

ReNew Energy Global Trading Down 2.4%

Shares of NASDAQ:RNW traded down $0.19 during midday trading on Thursday, reaching $7.53. The company's stock had a trading volume of 613,848 shares, compared to its average volume of 963,006. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 23.52 and a beta of 0.89. 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 PLC has a 1 year low of $5.15 and a 1 year high of $7.89. The business has a 50 day moving average price of $7.43 and a 200 day moving average price of $6.76.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $480.35 million during the quarter, compared to the consensus estimate of $32.46 billion. Research analysts forecast that ReNew Energy Global PLC will post 0.15 EPS for the current 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.