ReNew Energy Global Plc (NASDAQ:RNW - Get Free Report) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 2,320,000 shares, a decrease of 19.4% from the April 30th total of 2,880,000 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 822,900 shares, the short-interest ratio is presently 2.8 days.
ReNew Energy Global Price Performance
Shares of RNW traded down $0.03 during trading hours on Thursday, reaching $6.74. The company had a trading volume of 733,112 shares, compared to its average volume of 984,839. The firm has a 50 day simple moving average of $6.39 and a 200-day simple moving average of $6.44. 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 company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 134.80 and a beta of 0.89. ReNew Energy Global has a 12-month low of $5.15 and a 12-month high of $7.49.
Hedge Funds Weigh In On ReNew Energy Global
A number of large investors have recently made changes to their positions in RNW. SG Americas Securities LLC purchased a new position in shares of ReNew Energy Global in the 4th quarter valued at about $75,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of ReNew Energy Global by 206.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 38,861 shares of the company's stock valued at $265,000 after purchasing an additional 26,189 shares in the last quarter. Everett Harris & Co. CA increased its holdings in shares of ReNew Energy Global by 14.3% in the 4th quarter. Everett Harris & Co. CA now owns 40,000 shares of the company's stock valued at $273,000 after purchasing an additional 5,000 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of ReNew Energy Global in the 4th quarter valued at about $4,436,000. Finally, Silphium Asset Management Ltd purchased a new position in shares of ReNew Energy Global in the 4th quarter valued at about $2,049,000. Hedge funds and other institutional investors own 43.56% of the company's stock.
Analysts Set New Price Targets
Separately, Roth Mkm decreased their price target on shares of ReNew Energy Global from $8.00 to $7.50 and set a "buy" rating for the company in a research note on Friday, February 21st.
Check Out Our Latest Analysis on RNW
About ReNew Energy Global
(
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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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