ReNew Energy Global Plc (NASDAQ:RNW - Get Free Report) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totalling 2,320,000 shares, a decline of 19.4% from the April 30th total of 2,880,000 shares. Based on an average daily volume of 822,900 shares, the short-interest ratio is presently 2.8 days. Currently, 1.6% of the shares of the stock are sold short.
Institutional Investors Weigh In On ReNew Energy Global
Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. bought a new stake in ReNew Energy Global in the fourth quarter valued at $25,000. BNP Paribas Financial Markets acquired a new stake in shares of ReNew Energy Global in the 4th quarter valued at $25,000. Summit Securities Group LLC bought a new stake in shares of ReNew Energy Global in the 4th quarter worth about $34,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of ReNew Energy Global in the 4th quarter worth about $52,000. Finally, Signaturefd LLC acquired a new stake in shares of ReNew Energy Global during the 4th quarter worth about $65,000. Institutional investors own 43.56% of the company's stock.
ReNew Energy Global Stock Up 2.8%
ReNew Energy Global stock traded up $0.19 during mid-day trading on Tuesday, hitting $6.94. 697,112 shares of the company's stock were exchanged, compared to its average volume of 986,555. ReNew Energy Global has a 1-year low of $5.15 and a 1-year high of $7.49. The stock has a 50 day moving average of $6.36 and a two-hundred day moving average of $6.43. The company has a current ratio of 0.60, a quick ratio of 0.64 and a debt-to-equity ratio of 4.74. The stock has a market cap of $2.52 billion, a P/E ratio of 138.80 and a beta of 0.88.
Wall Street Analyst Weigh In
Separately, Roth Mkm dropped their price target on ReNew Energy Global from $8.00 to $7.50 and set a "buy" rating on the stock in a research note on Friday, February 21st.
Check Out Our Latest Stock Analysis on ReNew Energy Global
ReNew Energy Global Company Profile
(
Get Free Report)
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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