The Manufacturers Life Insurance Company Sells 185,000 Shares of ReNew Energy Global Plc (NASDAQ:RNW)

The Manufacturers Life Insurance Company cut its holdings in ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 16.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 933,181 shares of the company's stock after selling 185,000 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.26% of ReNew Energy Global worth $6,374,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Summit Securities Group LLC acquired a new position in shares of ReNew Energy Global in the fourth quarter valued at approximately $34,000. Signaturefd LLC bought a new stake in ReNew Energy Global in the 4th quarter valued at $65,000. SG Americas Securities LLC acquired a new position in ReNew Energy Global in the 4th quarter worth $75,000. Ballentine Partners LLC bought a new position in ReNew Energy Global during the 4th quarter worth about $107,000. Finally, Hsbc Holdings PLC raised its stake in shares of ReNew Energy Global by 40.3% in the 4th quarter. Hsbc Holdings PLC now owns 16,710 shares of the company's stock valued at $115,000 after purchasing an additional 4,799 shares during the period. 43.56% of the stock is owned by institutional investors.

ReNew Energy Global Stock Performance

Shares of RNW stock opened at $6.35 on Wednesday. ReNew Energy Global Plc has a 12 month low of $5.15 and a 12 month high of $7.49. The company's fifty day simple moving average is $6.14 and its 200-day simple moving average is $6.28. The firm has a market cap of $2.30 billion, a PE ratio of 127.00 and a beta of 0.88. The company has a quick ratio of 0.64, a current ratio of 0.60 and a debt-to-equity ratio of 4.74.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $20.22 billion. Equities research analysts expect that ReNew Energy Global Plc will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reduced their price objective on ReNew Energy Global from $8.00 to $7.50 and set a "buy" rating for the company in a research report 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.

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