First Trust Advisors LP Sells 79,994 Shares of ReNew Energy Global Plc (NASDAQ:RNW)

First Trust Advisors LP reduced its position 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 Securities and Exchange Commission (SEC). The fund owned 1,047,666 shares of the company's stock after selling 79,994 shares during the period. First Trust Advisors LP owned approximately 0.29% of ReNew Energy Global worth $7,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Walleye Capital LLC purchased a new position in shares of ReNew Energy Global during the 4th quarter worth $19,302,000. XTX Topco Ltd purchased a new position in ReNew Energy Global during the fourth quarter valued at $232,000. Mariner LLC grew its holdings in ReNew Energy Global by 22.7% during the fourth quarter. Mariner LLC now owns 31,340 shares of the company's stock valued at $214,000 after purchasing an additional 5,801 shares during the period. Barclays PLC increased its position in ReNew Energy Global by 21.8% in the fourth quarter. Barclays PLC now owns 32,123 shares of the company's stock worth $219,000 after buying an additional 5,742 shares in the last quarter. Finally, Covestor Ltd bought a new position in shares of ReNew Energy Global in the fourth quarter worth about $149,000. Institutional investors own 43.56% of the company's stock.

ReNew Energy Global Price Performance

Shares of ReNew Energy Global stock traded down $0.04 during trading hours on Monday, hitting $6.27. The company's stock had a trading volume of 31,433 shares, compared to its average volume of 1,060,879. The company has a market cap of $2.27 billion, a PE ratio of 125.52 and a beta of 0.89. 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 business has a 50 day moving average price of $6.14 and a two-hundred day moving average price of $6.28. ReNew Energy Global Plc has a 12-month low of $5.15 and a 12-month high of $7.49.

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

Analyst Upgrades and Downgrades

Separately, Roth Mkm cut their price objective on 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.

ReNew Energy Global 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.