Point72 Europe London LLP Purchases Shares of 102,900 ReNew Energy Global PLC $RNW

Key Points

• Point72 Europe London LLP has acquired a new stake in ReNew Energy Global PLC, purchasing 102,900 shares valued at around $606,000 during the first quarter.
• ReNew Energy Global reported earnings of $0.16 per share, surpassing analysts' expectations of $0.11, with a revenue of $480.35 million for the quarter.
• The company's stock, currently trading at $7.61, has a market capitalization of $2.76 billion and a price-to-earnings ratio of 23.78.

Point72 Europe London LLP purchased a new position in shares of ReNew Energy Global PLC (NASDAQ:RNW - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 102,900 shares of the company's stock, valued at approximately $606,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in ReNew Energy Global by 8.9% during the 4th quarter. Millennium Management LLC now owns 5,169,576 shares of the company's stock worth $35,308,000 after purchasing an additional 420,831 shares during the last quarter. Invesco Ltd. increased its stake in shares of ReNew Energy Global by 16.8% in the 1st quarter. Invesco Ltd. now owns 2,476,280 shares of the company's stock valued at $14,585,000 after acquiring an additional 356,311 shares in the last quarter. Picton Mahoney Asset Management increased its stake in shares of ReNew Energy Global by 33.1% in the 1st quarter. Picton Mahoney Asset Management now owns 944,707 shares of the company's stock valued at $5,563,000 after acquiring an additional 234,696 shares in the last quarter. Aperture Investors LLC increased its stake in shares of ReNew Energy Global by 18.7% in the 1st quarter. Aperture Investors LLC now owns 604,807 shares of the company's stock valued at $3,562,000 after acquiring an additional 95,471 shares in the last quarter. Finally, Tejara Capital Ltd increased its stake in shares of ReNew Energy Global by 115.8% in the 1st quarter. Tejara Capital Ltd now owns 564,209 shares of the company's stock valued at $3,323,000 after acquiring an additional 302,769 shares in the last quarter. Institutional investors own 43.56% of the company's stock.

ReNew Energy Global Trading Up 2.1%

Shares of NASDAQ:RNW traded up $0.16 during mid-day trading on Friday, hitting $7.80. The company had a trading volume of 775,120 shares, compared to its average volume of 796,213. The firm has a fifty day moving average price of $7.56 and a 200 day moving average price of $6.80. The company has a market capitalization of $2.83 billion, a PE ratio of 24.38 and a beta of 0.89. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.77 and a quick ratio of 0.73. 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 released its quarterly earnings data on Wednesday, August 13th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. The company had revenue of $480.35 million during the quarter, compared to analyst estimates of $32.46 billion. ReNew Energy Global had a net margin of 5.77% and a return on equity of 8.34%. As a group, research analysts forecast that ReNew Energy Global PLC will post 0.15 EPS for the current year.

About ReNew Energy Global

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.