The Manufacturers Life Insurance Company Has $6.37 Million Position in ReNew Energy Global Plc (NASDAQ:RNW)

The Manufacturers Life Insurance Company cut its position in shares of ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 16.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 933,181 shares of the company's stock after selling 185,000 shares during the period. The Manufacturers Life Insurance Company owned about 0.26% of ReNew Energy Global worth $6,374,000 at the end of the most recent reporting period.

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

ReNew Energy Global Price Performance

Shares of NASDAQ RNW traded up $0.01 during trading on Monday, reaching $6.59. The company had a trading volume of 73,155 shares, compared to its average volume of 1,065,931. The business's 50 day moving average price is $6.15 and its 200-day moving average price is $6.29. ReNew Energy Global Plc has a 52 week low of $5.15 and a 52 week high of $7.49. 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 stock has a market cap of $2.39 billion, a PE ratio of 131.70 and a beta of 0.88.

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

Analysts Set New Price Targets

Separately, Roth Mkm decreased their price target on ReNew Energy Global from $8.00 to $7.50 and set a "buy" rating on the stock 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.