ReNew Energy Global PLC $RNW Shares Purchased by Millennium Management LLC

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 grew its stake in ReNew Energy Global PLC (NASDAQ:RNW - Free Report) by 22.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,351,699 shares of the company's stock after buying an additional 1,182,123 shares during the period. Millennium Management LLC owned 1.75% of ReNew Energy Global worth $37,412,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TT International Asset Management LTD raised its holdings in shares of ReNew Energy Global by 102.7% in the first quarter. TT International Asset Management LTD now owns 301,392 shares of the company's stock worth $1,775,000 after buying an additional 152,691 shares during the last quarter. GAM Holding AG purchased a new position in shares of ReNew Energy Global in the first quarter worth $942,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of ReNew Energy Global by 158.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 100,404 shares of the company's stock worth $591,000 after buying an additional 61,543 shares during the last quarter. Invesco Ltd. raised its holdings in shares of 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 buying an additional 356,311 shares during the last quarter. Finally, CIBRA Capital Ltd purchased a new position in shares of ReNew Energy Global in the first quarter worth $876,000. Hedge funds and other institutional investors own 43.56% of the company's stock.

ReNew Energy Global Stock Performance

Shares of NASDAQ RNW traded up $0.01 during midday trading on Friday, reaching $7.62. The company had a trading volume of 482,461 shares, compared to its average volume of 786,531. The business's 50-day simple moving average is $7.61 and its 200 day simple moving average is $6.85. The stock has a market cap of $2.76 billion, a P/E ratio of 23.78 and a beta of 0.89. ReNew Energy Global PLC has a 1 year low of $5.15 and a 1 year high of $7.89. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 4.42.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $32.46 billion. ReNew Energy Global had a net margin of 5.77% and a return on equity of 8.34%. On average, analysts forecast that ReNew Energy Global PLC will post 0.15 earnings per share for the current fiscal 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.