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

Several other large investors also recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new position in shares of ReNew Energy Global in the 4th quarter valued at about $25,000. BNP Paribas Financial Markets acquired a new stake in shares of ReNew Energy Global in the fourth quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of ReNew Energy Global in the fourth quarter valued at approximately $52,000. MQS Management LLC acquired a new position in ReNew Energy Global during the first quarter valued at approximately $83,000. Finally, Bank of America Corp DE raised its position in ReNew Energy Global by 722.2% during the fourth quarter. Bank of America Corp DE now owns 15,621 shares of the company's stock valued at $107,000 after purchasing an additional 13,721 shares in the last quarter. 43.56% of the stock is currently owned by institutional investors.

ReNew Energy Global Price Performance

Shares of NASDAQ RNW traded down $0.03 during midday trading on Thursday, reaching $7.64. 539,512 shares of the company were exchanged, compared to its average volume of 965,707. 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 one year low of $5.15 and a one year high of $7.89. The stock has a market cap of $2.77 billion, a P/E ratio of 23.88 and a beta of 0.89. The stock's 50-day moving average price is $7.54 and its 200-day moving average price is $6.80.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. The business had revenue of $480.35 million for 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%. On average, sell-side analysts anticipate that ReNew Energy Global PLC will post 0.15 earnings per share for the current fiscal 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.