Cubist Systematic Strategies LLC Acquires 137,262 Shares of ReNew Energy Global PLC $RNW

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in shares of ReNew Energy Global by 8.9% in the 4th quarter. Millennium Management LLC now owns 5,169,576 shares of the company's stock valued at $35,308,000 after purchasing an additional 420,831 shares during the last quarter. Invesco Ltd. increased its stake in ReNew Energy Global by 16.8% in the first 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 during the period. Fiera Capital Corp bought a new stake in ReNew Energy Global in the first quarter valued at about $1,865,000. Groupe la Francaise bought a new stake in ReNew Energy Global during the first quarter worth about $1,892,000. Finally, Tejara Capital Ltd grew its stake in ReNew Energy Global by 115.8% during the first quarter. Tejara Capital Ltd now owns 564,209 shares of the company's stock worth $3,323,000 after buying an additional 302,769 shares during the last quarter. 43.56% of the stock is currently owned by hedge funds and other institutional investors.

ReNew Energy Global Trading Up 0.1%

RNW traded up $0.01 during mid-day trading on Tuesday, hitting $7.65. The stock had a trading volume of 500,076 shares, compared to its average volume of 783,556. ReNew Energy Global PLC has a 1-year low of $5.15 and a 1-year high of $7.89. The company has a debt-to-equity ratio of 4.42, a current ratio of 0.77 and a quick ratio of 0.73. The stock's fifty day simple moving average is $7.59 and its 200-day simple moving average is $6.83. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 23.91 and a beta of 0.89.

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 (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. ReNew Energy Global had a net margin of 5.77% and a return on equity of 8.34%. The firm had revenue of $480.35 million for the quarter, compared to analyst estimates of $32.46 billion. As a group, research analysts forecast that ReNew Energy Global PLC will post 0.15 EPS for the current fiscal year.

ReNew Energy Global Company 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.