UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Invests $34.65 Million in ReNew Energy Global PLC $RNW

Key Points

• UBS AM acquired a new stake in ReNew Energy Global PLC worth approximately $34.65 million, purchasing nearly 5.9 million shares during the first quarter.
• Other institutional investors, including Millennium Management LLC and Cubist Systematic Strategies LLC, have also significantly increased their holdings in ReNew Energy Global, highlighting growing institutional interest.
• ReNew Energy reported earnings of $0.16 per share for the quarter, surpassing expectations, with a revenue of $480.35 million amid a market capital of $2.80 billion.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of ReNew Energy Global PLC (NASDAQ:RNW - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,883,089 shares of the company's stock, valued at approximately $34,651,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 1.62% of ReNew Energy Global as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Millennium Management LLC lifted its stake in shares of ReNew Energy Global by 22.9% during the 1st quarter. Millennium Management LLC now owns 6,351,699 shares of the company's stock worth $37,412,000 after buying an additional 1,182,123 shares during the last quarter. Invesco Ltd. grew 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 worth $14,585,000 after acquiring an additional 356,311 shares in the last quarter. Fiera Capital Corp bought a new position in ReNew Energy Global during the first quarter valued at about $1,865,000. Groupe la Francaise bought a new stake in ReNew Energy Global during the 1st quarter worth approximately $1,892,000. Finally, Tejara Capital Ltd raised its stake in shares of 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 acquiring an additional 302,769 shares in the last quarter. 43.56% of the stock is currently owned by institutional investors and hedge funds.

ReNew Energy Global Stock Down 1.4%

Shares of RNW stock traded down $0.11 during mid-day trading on Friday, reaching $7.61. 1,444,425 shares of the company's stock traded hands, compared to its average volume of 713,054. ReNew Energy Global PLC has a 12 month low of $5.15 and a 12 month high of $7.89. The company's 50-day moving average price is $7.63 and its 200-day moving average price is $6.90. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 4.42. The company has a market cap of $2.76 billion, a P/E ratio of 23.78 and a beta of 0.89.

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, topping 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%. On average, equities analysts expect that ReNew Energy Global PLC will post 0.15 earnings per share for the current fiscal 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.