Millennium Management LLC Grows Position in ReNew Energy Global PLC $RNW

Key Points

• Millennium Management LLC increased its stake in ReNew Energy Global PLC by 22.9% in the first quarter, now owning 6,351,699 shares valued at approximately $37.41 million.
• ReNew Energy Global reported earnings exceeding analysts' expectations, posting $0.16 EPS for the most recent quarter, compared to the consensus estimate of $0.11 EPS.
• Institutional investors now hold 43.56% of ReNew Energy Global's stock, with other notable funds like PDT Partners and Cubist Systematic Strategies also increasing their stakes during the period.

Millennium Management LLC lifted its holdings in shares of ReNew Energy Global PLC (NASDAQ:RNW - Free Report) by 22.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,351,699 shares of the company's stock after acquiring an additional 1,182,123 shares during the quarter. Millennium Management LLC owned approximately 1.75% of ReNew Energy Global worth $37,412,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of ReNew Energy Global during the fourth quarter valued at approximately $25,000. BNP Paribas Financial Markets bought a new position in shares of ReNew Energy Global during the fourth quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of ReNew Energy Global during the fourth quarter valued at approximately $52,000. MQS Management LLC bought a new position in ReNew Energy Global in the first quarter worth $83,000. Finally, Signaturefd LLC raised its holdings in ReNew Energy Global by 81.6% in the first quarter. Signaturefd LLC now owns 17,245 shares of the company's stock worth $102,000 after purchasing an additional 7,749 shares in the last quarter. Institutional investors own 43.56% of the company's stock.

ReNew Energy Global Stock Up 0.9%

RNW traded up $0.07 during trading on Monday, reaching $7.69. The stock had a trading volume of 64,047 shares, compared to its average volume of 950,405. The stock's 50 day moving average is $7.61 and its two-hundred day moving average is $6.86. 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 company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 23.99 and a beta of 0.89. ReNew Energy Global PLC has a one year low of $5.15 and a one year high of $7.89.

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