JPMorgan Chase & Co. Trims Stock Holdings in ReNew Energy Global Plc (NASDAQ:RNW)

JPMorgan Chase & Co. cut its position in shares of ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 90.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,377 shares of the company's stock after selling 134,400 shares during the quarter. JPMorgan Chase & Co.'s holdings in ReNew Energy Global were worth $98,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Everett Harris & Co. CA raised its stake in shares of ReNew Energy Global by 14.3% in the fourth quarter. Everett Harris & Co. CA now owns 40,000 shares of the company's stock worth $273,000 after purchasing an additional 5,000 shares during the last quarter. Signaturefd LLC purchased a new position in shares of ReNew Energy Global in the fourth quarter worth $65,000. SG Americas Securities LLC purchased a new position in shares of ReNew Energy Global in the fourth quarter worth $75,000. Ballentine Partners LLC purchased a new position in shares of ReNew Energy Global in the fourth quarter worth $107,000. Finally, Barclays PLC raised its stake in shares of ReNew Energy Global by 382.5% in the third quarter. Barclays PLC now owns 26,381 shares of the company's stock worth $166,000 after purchasing an additional 20,913 shares during the last quarter. 43.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Roth Mkm decreased their price target on ReNew Energy Global from $8.00 to $7.50 and set a "buy" rating for the company in a research note on Friday, February 21st.

ReNew Energy Global Stock Performance

ReNew Energy Global stock traded up $0.14 during mid-day trading on Friday, reaching $6.58. 566,089 shares of the stock traded hands, compared to its average volume of 1,069,763. The stock has a market capitalization of $2.39 billion, a PE ratio of 131.60 and a beta of 0.88. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.64. ReNew Energy Global Plc has a 12-month low of $5.15 and a 12-month high of $7.49. The business's 50-day moving average is $6.15 and its 200-day moving average is $6.29.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.07). The firm had revenue of $248.00 million for the quarter, compared to analysts' expectations of $20.22 billion. ReNew Energy Global had a net margin of 2.17% and a return on equity of 1.75%. As a group, sell-side analysts predict that ReNew Energy Global Plc will post 0.15 EPS 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.