ReNew Energy Global PLC $RNW Shares Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its stake in ReNew Energy Global PLC by 56.4% in the first quarter, holding 380,647 shares valued at approximately $2.24 million.
• ReNew Energy Global reported earnings per share of $0.16 for the last quarter, exceeding analyst expectations of $0.11, with a net margin of 5.77% and revenue of $480.35 million.
• The company's shares opened at $7.80, reflecting a 2.1% increase, with institutional investors owning about 43.56% of its stock.

Cubist Systematic Strategies LLC increased its holdings in ReNew Energy Global PLC (NASDAQ:RNW - Free Report) by 56.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 380,647 shares of the company's stock after buying an additional 137,262 shares during the period. Cubist Systematic Strategies LLC owned about 0.10% of ReNew Energy Global worth $2,242,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Point72 Asset Management L.P. acquired 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 position in ReNew Energy Global during the 4th quarter valued at about $25,000. Hsbc Holdings PLC boosted its stake in ReNew Energy Global by 40.3% during the 4th quarter. Hsbc Holdings PLC now owns 16,710 shares of the company's stock valued at $115,000 after purchasing an additional 4,799 shares during the period. Barclays PLC boosted its stake in ReNew Energy Global by 21.8% during the 4th quarter. Barclays PLC now owns 32,123 shares of the company's stock valued at $219,000 after purchasing an additional 5,742 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in ReNew Energy Global during the 4th quarter valued at about $52,000. 43.56% of the stock is owned by institutional investors and hedge funds.

ReNew Energy Global Stock Performance

ReNew Energy Global stock traded up $0.01 during midday trading on Friday, reaching $7.62. 482,461 shares of the stock traded hands, compared to its average volume of 786,531. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 4.42. The firm has a fifty day moving average price of $7.61 and a two-hundred day moving average price of $6.85. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 23.81 and a beta of 0.89. ReNew Energy Global PLC has a fifty-two week low of $5.15 and a fifty-two week high of $7.89.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates 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%. On average, equities research analysts forecast 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.