Quadrant Capital Group LLC Purchases New Position in ReNew Energy Global PLC $RNW

Key Points

• Quadrant Capital Group purchased 186,769 shares of ReNew Energy Global worth approximately $1.285 million, giving it a 0.05% stake. Institutional investors collectively own 43.56% of the company.
• ReNew Energy Global reported quarterly EPS of $0.17, beating estimates of $0.12, while revenue of $472.92 million also exceeded expectations.
• Analyst sentiment is currently cautious: four analysts rate the stock “Hold,” with a consensus price target of $6.39 versus its reported opening price of $6.88.

Quadrant Capital Group LLC purchased a new stake in ReNew Energy Global PLC (NASDAQ:RNW - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 186,769 shares of the company's stock, valued at approximately $1,285,000. Quadrant Capital Group LLC owned 0.05% of ReNew Energy Global as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RNW. Allworth Financial LP boosted its holdings in shares of ReNew Energy Global by 57.6% during the 2nd quarter. Allworth Financial LP now owns 4,600 shares of the company's stock worth $29,000 after buying an additional 1,682 shares during the period. Tidal Investments LLC grew its stake in ReNew Energy Global by 16.1% in the 2nd quarter. Tidal Investments LLC now owns 15,595 shares of the company's stock valued at $97,000 after buying an additional 2,164 shares during the last quarter. Cyndeo Wealth Partners LLC grew its stake in ReNew Energy Global by 21.6% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,317 shares of the company's stock valued at $132,000 after buying an additional 3,432 shares during the last quarter. Corient Private Wealth LP raised its holdings in ReNew Energy Global by 12.4% in the 2nd quarter. Corient Private Wealth LP now owns 41,234 shares of the company's stock worth $258,000 after acquiring an additional 4,536 shares during the period. Finally, Parallel Advisors LLC raised its holdings in ReNew Energy Global by 29.3% in the 1st quarter. Parallel Advisors LLC now owns 20,678 shares of the company's stock worth $95,000 after acquiring an additional 4,689 shares during the period. Institutional investors own 43.56% of the company's stock.

ReNew Energy Global Stock Performance

Shares of NASDAQ RNW opened at $6.88 on Friday. ReNew Energy Global PLC has a 12 month low of $4.39 and a 12 month high of $7.78. The company has a market cap of $2.51 billion, a P/E ratio of 21.50 and a beta of 1.18. The business's 50 day moving average is $6.85 and its two-hundred day moving average is $6.22. The company has a quick ratio of 0.40, a current ratio of 0.43 and a debt-to-equity ratio of 3.35.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last posted its quarterly earnings data on Tuesday, August 18th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.05. The company had revenue of $472.92 million during the quarter, compared to analysts' expectations of $459.86 million. ReNew Energy Global had a return on equity of 7.71% and a net margin of 7.24%. On average, equities analysts expect that ReNew Energy Global PLC will post 0.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Zacks Research lowered shares of ReNew Energy Global from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 17th. Roth Capital downgraded ReNew Energy Global from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 26th. Four analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $6.39.

ReNew Energy Global Profile

ReNew Energy Global plc NASDAQ: RNW is a renewable energy company focused on developing, owning, and operating clean power projects in India. Its portfolio includes utility-scale wind, solar, and hydroelectric generation, as well as hybrid renewable energy projects that combine multiple technologies to support more consistent electricity production.

The company also pursues related clean-energy opportunities, including battery storage, green hydrogen, and other decarbonization solutions.

Want to see what other hedge funds are holding RNW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ReNew Energy Global PLC (NASDAQ:RNW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.