ReNew Energy Global PLC $RNW Shares Purchased by UBS Group AG

UBS Group AG boosted its holdings in ReNew Energy Global PLC (NASDAQ:RNW) by 199.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 637,119 shares of the company’s stock after acquiring an additional 424,290 shares during the period. UBS Group AG’s holdings in ReNew Energy Global were worth $3,600,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in ReNew Energy Global in the second quarter valued at approximately $29,000. Farther Finance Advisors LLC lifted its stake in ReNew Energy Global by 213.9% during the fourth quarter. Farther Finance Advisors LLC now owns 5,503 shares of the company’s stock worth $31,000 after purchasing an additional 3,750 shares in the last quarter. Quarry LP acquired a new position in ReNew Energy Global during the third quarter worth $33,000. Prime Capital Investment Advisors LLC acquired a new position in ReNew Energy Global during the fourth quarter worth $70,000. Finally, Evergreen Capital Management LLC acquired a new position in ReNew Energy Global during the second quarter worth $74,000. 43.56% of the stock is currently owned by institutional investors and hedge funds.

ReNew Energy Global Stock Up 1.2%

NASDAQ:RNW opened at $5.92 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.42 and a debt-to-equity ratio of 3.60. The stock’s fifty day moving average is $5.12 and its two-hundred day moving average is $5.76. ReNew Energy Global PLC has a 52 week low of $4.39 and a 52 week high of $8.24. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 19.10 and a beta of 1.07.

ReNew Energy Global (NASDAQ:RNW) last released its quarterly earnings results on Monday, May 18th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.17. ReNew Energy Global had a return on equity of 7.57% and a net margin of 7.18%.The company had revenue of $355.59 million for the quarter, compared to analysts’ expectations of $307.73 million. Research analysts anticipate that ReNew Energy Global PLC will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley set a $6.03 price target on ReNew Energy Global in a research note on Monday, February 2nd. Weiss Ratings cut ReNew Energy Global from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Finally, Zacks Research upgraded ReNew Energy Global from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.52.

About ReNew Energy Global

ReNew Energy Global PLC is an independent power producer specializing in the development, construction, ownership and operation of utility-scale renewable energy projects. Headquartered in Gurugram, India, the company focuses on onshore wind farms, solar photovoltaic plants and hybrid energy systems, often paired with battery energy storage to enhance grid stability and dispatch flexibility. ReNew Energy Global markets electricity under long-term power purchase agreements, serving utilities, distribution companies and corporate offtakers.

The company’s core business activities encompass site identification, project design, procurement, construction management and ongoing asset management.