First Trust Advisors LP Trims Holdings in ReNew Energy Global Plc (NASDAQ:RNW)

First Trust Advisors LP lowered its stake in ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,047,666 shares of the company's stock after selling 79,994 shares during the quarter. First Trust Advisors LP owned approximately 0.29% of ReNew Energy Global worth $7,156,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new stake in shares of ReNew Energy Global in the fourth quarter valued at $34,000. Signaturefd LLC purchased a new stake in ReNew Energy Global in the 4th quarter valued at about $65,000. SG Americas Securities LLC acquired a new position in shares of ReNew Energy Global during the 4th quarter valued at about $75,000. Ballentine Partners LLC purchased a new position in shares of ReNew Energy Global during the 4th quarter worth about $107,000. Finally, Quadrant Capital Group LLC acquired a new stake in shares of ReNew Energy Global in the fourth quarter worth approximately $133,000. Institutional investors and hedge funds own 43.56% of the company's stock.

ReNew Energy Global Trading Down 0.9 %

NASDAQ:RNW traded down $0.06 on Friday, hitting $6.31. 448,691 shares of the stock were exchanged, compared to its average volume of 1,064,628. The stock has a market cap of $2.29 billion, a PE ratio of 126.20 and a beta of 0.89. ReNew Energy Global Plc has a fifty-two week low of $5.15 and a fifty-two week high of $7.49. 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 fifty day moving average of $6.14 and a 200-day moving average of $6.28.

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

Analysts Set New Price Targets

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 research note 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.