ReNew Energy Global (NASDAQ:RNW) PT Lowered to $8.00 at Roth Mkm

ReNew Energy Global (NASDAQ:RNW - Get Free Report) had its price objective decreased by equities researchers at Roth Mkm from $9.00 to $8.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. Roth Mkm's price target suggests a potential upside of 36.75% from the company's previous close.

Several other brokerages also recently commented on RNW. Mizuho boosted their price objective on shares of ReNew Energy Global from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday, January 3rd. The Goldman Sachs Group boosted their price objective on shares of ReNew Energy Global from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Wednesday, December 20th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $8.35.

ReNew Energy Global Price Performance

Shares of NASDAQ RNW traded up $0.10 during midday trading on Thursday, reaching $5.85. The company's stock had a trading volume of 619,990 shares, compared to its average volume of 581,996. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.84 and a current ratio of 0.85. ReNew Energy Global has a fifty-two week low of $4.78 and a fifty-two week high of $7.79. The business's 50 day moving average price is $6.28 and its two-hundred day moving average price is $6.34. The company has a market cap of $2.18 billion, a P/E ratio of 58.50 and a beta of 0.91.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). ReNew Energy Global had a net margin of 3.61% and a return on equity of 2.96%. The business had revenue of $232.00 million during the quarter, compared to analyst estimates of $195.90 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share.

Institutional Trading of ReNew Energy Global

A number of institutional investors have recently bought and sold shares of RNW. State of Wyoming bought a new stake in ReNew Energy Global during the fourth quarter valued at $28,000. Quantbot Technologies LP boosted its position in ReNew Energy Global by 556.4% during the second quarter. Quantbot Technologies LP now owns 4,595 shares of the company's stock valued at $29,000 after acquiring an additional 3,895 shares during the last quarter. Pale Fire Capital SE bought a new stake in ReNew Energy Global during the third quarter valued at $54,000. Citigroup Inc. bought a new stake in ReNew Energy Global during the second quarter valued at $55,000. Finally, Legal & General Group Plc boosted its position in ReNew Energy Global by 287.0% during the third quarter. Legal & General Group Plc now owns 10,677 shares of the company's stock valued at $58,000 after acquiring an additional 7,918 shares during the last quarter. Institutional investors own 43.56% of the company's stock.

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.