ReNew Energy Global (NASDAQ:RNW) Reaches New 12-Month High - Here's What Happened

Key Points

• ReNew Energy Global PLC hit a new 52-week high of $7.89 during trading, closing at $7.83 with a volume of 456,875 shares.
• The company reported $0.16 earnings per share for the last quarter, surpassing analyst estimates of $0.11.
• Institutional investors have shown increased interest, with Bank of America lifting its holdings by 722.2% in the fourth quarter.

ReNew Energy Global PLC (NASDAQ:RNW - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $7.89 and last traded at $7.83, with a volume of 456875 shares trading hands. The stock had previously closed at $7.61.

ReNew Energy Global Price Performance

The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 4.42. The business has a 50-day moving average price of $7.63 and a 200 day moving average price of $6.91. The stock has a market cap of $2.84 billion, a PE ratio of 24.50 and a beta of 0.89.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.05. The business had revenue of $480.35 million for the quarter, compared to analysts' expectations of $32.46 billion. ReNew Energy Global had a return on equity of 8.34% and a net margin of 5.77%. As a group, research analysts forecast that ReNew Energy Global PLC will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of ReNew Energy Global

A number of institutional investors have recently added to or reduced their stakes in RNW. BNP Paribas Financial Markets bought a new position in shares of ReNew Energy Global during the 4th quarter valued at about $25,000. Bank of America Corp DE lifted its holdings in ReNew Energy Global by 722.2% in the 4th quarter. Bank of America Corp DE now owns 15,621 shares of the company's stock worth $107,000 after buying an additional 13,721 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in shares of ReNew Energy Global by 61.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 87,771 shares of the company's stock valued at $599,000 after purchasing an additional 33,475 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of ReNew Energy Global in the 4th quarter valued at approximately $25,000. Finally, Vident Advisory LLC purchased a new position in shares of ReNew Energy Global in the 4th quarter valued at approximately $206,000. Hedge funds and other 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.

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