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

PDT Partners LLC increased its holdings in ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 486.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,390 shares of the company's stock after purchasing an additional 73,316 shares during the period. PDT Partners LLC's holdings in ReNew Energy Global were worth $604,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of RNW. Franklin Resources Inc. increased its position in shares of ReNew Energy Global by 191.4% during the 4th quarter. Franklin Resources Inc. now owns 5,693,312 shares of the company's stock valued at $38,885,000 after purchasing an additional 3,739,645 shares during the last quarter. Walleye Capital LLC purchased a new position in ReNew Energy Global during the fourth quarter worth $19,302,000. Helikon Investments Ltd bought a new position in ReNew Energy Global during the fourth quarter valued at $15,055,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of ReNew Energy Global in the fourth quarter valued at $4,436,000. Finally, Norges Bank purchased a new stake in shares of ReNew Energy Global in the fourth quarter valued at $4,107,000. Hedge funds and other institutional investors own 43.56% of the company's stock.

ReNew Energy Global Price Performance

Shares of RNW stock opened at $6.37 on Friday. The stock has a 50 day moving average price of $6.14 and a 200 day moving average price of $6.27. ReNew Energy Global Plc has a 52-week low of $5.15 and a 52-week high of $7.49. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.64 and a current ratio of 0.60. The firm has a market capitalization of $2.31 billion, a P/E ratio of 127.40 and a beta of 0.89.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last released its 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). The business had revenue of $248.00 million for the quarter, compared to the consensus estimate of $20.22 billion. ReNew Energy Global had a return on equity of 1.75% and a net margin of 2.17%. As a group, sell-side analysts predict that ReNew Energy Global Plc will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.

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