PDT Partners LLC Buys 73,316 Shares of ReNew Energy Global Plc (NASDAQ:RNW)

PDT Partners LLC grew its position in ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 486.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,390 shares of the company's stock after buying an additional 73,316 shares during the quarter. PDT Partners LLC's holdings in ReNew Energy Global were worth $604,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC grew its holdings in shares of ReNew Energy Global by 382.5% during the 3rd quarter. Barclays PLC now owns 26,381 shares of the company's stock valued at $166,000 after purchasing an additional 20,913 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of ReNew Energy Global in the third quarter worth approximately $11,585,000. JPMorgan Chase & Co. increased its stake in shares of ReNew Energy Global by 26.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 148,777 shares of the company's stock valued at $936,000 after acquiring an additional 31,125 shares in the last quarter. FNY Investment Advisers LLC increased its stake in ReNew Energy Global by 509.0% in the fourth quarter. FNY Investment Advisers LLC now owns 50,547 shares of the company's stock valued at $345,000 after purchasing an additional 42,247 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in ReNew Energy Global in the fourth quarter valued at approximately $107,000. 43.56% of the stock is owned by institutional investors.

ReNew Energy Global Price Performance

Shares of RNW traded up $0.06 during trading hours on Wednesday, reaching $6.41. 60,438 shares of the company's stock traded hands, compared to its average volume of 1,009,647. The firm's 50 day simple moving average is $6.14 and its 200-day simple moving average is $6.28. The stock has a market cap of $2.32 billion, a PE ratio of 128.10 and a beta of 0.88. 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 12 month low of $5.15 and a 12 month high of $7.49.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07). ReNew Energy Global had a return on equity of 1.75% and a net margin of 2.17%. The firm had revenue of $248.00 million during the quarter, compared to analysts' expectations of $20.22 billion. Equities analysts expect that ReNew Energy Global Plc will post 0.15 EPS for the current year.

Analysts Set New Price Targets

Separately, Roth Mkm lowered their target price 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 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.