ReNew Energy Global PLC $RNW Shares Sold by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in ReNew Energy Global PLC by 40.7%, leaving it with approximately 1.36 million shares worth $8.02 million.
• ReNew Energy Global reported earnings of $0.16 per share for the last quarter, surpassing analysts' expectations of $0.11.
• Following a 1st-quarter acquisition, Invesco Ltd. increased its shares in ReNew Energy Global by 16.8%, now holding approximately 2.48 million shares valued at $14.58 million.

Northwest & Ethical Investments L.P. lessened its holdings in shares of ReNew Energy Global PLC (NASDAQ:RNW - Free Report) by 40.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,362,071 shares of the company's stock after selling 934,729 shares during the period. Northwest & Ethical Investments L.P. owned 0.38% of ReNew Energy Global worth $8,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RNW. Barclays PLC raised its holdings in shares of ReNew Energy Global by 21.8% during the fourth quarter. Barclays PLC now owns 32,123 shares of the company's stock valued at $219,000 after buying an additional 5,742 shares during the last quarter. Mariner LLC raised its holdings in shares of ReNew Energy Global by 22.7% during the fourth quarter. Mariner LLC now owns 31,340 shares of the company's stock valued at $214,000 after buying an additional 5,801 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of ReNew Energy Global during the fourth quarter valued at approximately $232,000. Hsbc Holdings PLC raised its holdings in shares of ReNew Energy Global by 40.3% during the fourth quarter. Hsbc Holdings PLC now owns 16,710 shares of the company's stock valued at $115,000 after buying an additional 4,799 shares during the last quarter. Finally, Alpine Global Management LLC bought a new stake in shares of ReNew Energy Global during the fourth quarter valued at approximately $990,000. Institutional investors own 43.56% of the company's stock.

ReNew Energy Global Stock Performance

Shares of RNW traded up $0.12 during mid-day trading on Friday, reaching $7.79. 1,918,435 shares of the company's stock traded hands, compared to its average volume of 974,808. The business's 50-day moving average price is $7.36 and its 200-day moving average price is $6.73. The stock has a market capitalization of $2.83 billion, a P/E ratio of 24.34 and a beta of 0.89. The company has a debt-to-equity ratio of 4.42, a quick ratio of 0.73 and a current ratio of 0.77. 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 announced its earnings results on Wednesday, August 13th. The company reported $0.16 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $32.46 billion. Equities analysts predict 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.