ReNew Energy Global (NASDAQ:RNW) Trading 7.6% Higher

ReNew Energy Global Plc (NASDAQ:RNW - Get Free Report) shares rose 7.6% during mid-day trading on Friday . The stock traded as high as $6.13 and last traded at $6.11. Approximately 193,673 shares were traded during trading, a decline of 68% from the average daily volume of 608,838 shares. The stock had previously closed at $5.68.

Analysts Set New Price Targets

Separately, Roth Mkm decreased their target price on ReNew Energy Global from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, April 11th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ReNew Energy Global has an average rating of "Buy" and an average price target of $8.35.

ReNew Energy Global Trading Up 9.2 %

The firm has a market cap of $2.31 billion, a PE ratio of 62.00 and a beta of 0.91. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 4.57. The business has a fifty day moving average price of $6.01 and a 200 day moving average price of $6.36.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last announced its earnings results on Tuesday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). The firm had revenue of $232.00 million during the quarter, compared to analyst estimates of $195.90 million. ReNew Energy Global had a net margin of 3.61% and a return on equity of 2.96%. During the same period last year, the company earned ($0.15) earnings per share. Analysts forecast that ReNew Energy Global Plc will post 0.04 EPS for the current year.

Institutional Trading of ReNew Energy Global

Hedge funds have recently added to or reduced their stakes in the stock. Rubric Capital Management LP lifted its position in ReNew Energy Global by 21.2% during the 3rd quarter. Rubric Capital Management LP now owns 9,897,426 shares of the company's stock worth $53,743,000 after acquiring an additional 1,731,521 shares during the period. Sylebra Capital LLC acquired a new stake in shares of ReNew Energy Global in the 3rd quarter valued at approximately $13,962,000. Graham Capital Management L.P. acquired a new stake in shares of ReNew Energy Global in the 3rd quarter valued at approximately $304,000. GSA Capital Partners LLP lifted its holdings in shares of ReNew Energy Global by 945.4% in the 3rd quarter. GSA Capital Partners LLP now owns 130,669 shares of the company's stock valued at $710,000 after buying an additional 118,169 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of ReNew Energy Global by 18.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 63,412 shares of the company's stock valued at $344,000 after buying an additional 10,082 shares during the period. 43.56% of the stock is owned by institutional investors and hedge funds.

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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