Investors Buy Large Volume of Put Options on ReNew Energy Global (NASDAQ:RNW)

ReNew Energy Global PLC (NASDAQ:RNW - Get Free Report) was the target of unusually large options trading on Tuesday. Traders bought 5,800 put options on the company. This is an increase of approximately 962% compared to the typical volume of 546 put options.

ReNew Energy Global Stock Down 1.3%

Shares of ReNew Energy Global stock traded down $0.10 on Tuesday, reaching $7.48. The company's stock had a trading volume of 2,076,360 shares, compared to its average volume of 981,126. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 47.38 and a beta of 0.88. The firm's fifty day simple moving average is $6.78 and its two-hundred day simple moving average is $6.53. ReNew Energy Global has a 52 week low of $5.15 and a 52 week high of $7.67. The company has a quick ratio of 0.58, a current ratio of 0.60 and a debt-to-equity ratio of 4.44.

Institutional Trading of ReNew Energy Global

Large investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new stake in ReNew Energy Global in the 4th quarter worth approximately $25,000. BNP Paribas Financial Markets purchased a new position in shares of ReNew Energy Global in the 4th quarter worth $25,000. Summit Securities Group LLC bought a new stake in shares of ReNew Energy Global in the fourth quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of ReNew Energy Global in the fourth quarter worth $52,000. Finally, Signaturefd LLC purchased a new stake in ReNew Energy Global during the fourth quarter valued at $65,000. 43.56% of the stock is currently owned by institutional investors.

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.