JPMorgan Chase & Co. Lowers Position in ReNew Energy Global Plc (NASDAQ:RNW)

JPMorgan Chase & Co. trimmed its holdings in shares of ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 90.3% in the 4th quarter, according to the company in 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 institutional investors have also added to or reduced their stakes in the company. Northwest & Ethical Investments L.P. increased its stake in ReNew Energy Global by 6.3% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,296,800 shares of the company's stock valued at $15,687,000 after acquiring an additional 135,606 shares during the last quarter. Helikon Investments Ltd bought a new position in shares of ReNew Energy Global during the 4th quarter valued at about $15,055,000. Franklin Resources Inc. purchased a new position in shares of ReNew Energy Global during the 3rd quarter valued at about $11,585,000. State of New Jersey Common Pension Fund D purchased a new position in shares of ReNew Energy Global during the 4th quarter valued at about $4,436,000. Finally, Silphium Asset Management Ltd bought a new stake in ReNew Energy Global in the 4th quarter worth approximately $2,049,000. 43.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Roth Mkm lowered their price objective on shares of ReNew Energy Global from $8.00 to $7.50 and set a "buy" rating for the company in a report on Friday, February 21st.

ReNew Energy Global Trading Up 0.5 %

NASDAQ RNW opened at $6.34 on Tuesday. The stock has a 50-day moving average of $6.13 and a 200-day moving average of $6.28. The company has a current ratio of 0.60, a quick ratio of 0.64 and a debt-to-equity ratio of 4.74. ReNew Energy Global Plc has a 1-year low of $5.15 and a 1-year high of $7.49. The firm has a market cap of $2.30 billion, a PE ratio of 126.80 and a beta of 0.88.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The firm had revenue of $248.00 million for the quarter, compared to the consensus estimate 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 forecast that ReNew Energy Global Plc will post 0.15 EPS for the current 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.

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