SEB Asset Management AB Invests $436,000 in ReNew Energy Global PLC $RNW

SEB Asset Management AB bought a new stake in shares of ReNew Energy Global PLC (NASDAQ:RNW) during the first quarter, Holdings Channel.com reports. The fund bought 95,272 shares of the company’s stock, valued at approximately $436,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hussman Strategic Advisors Inc. bought a new stake in ReNew Energy Global during the 4th quarter valued at approximately $593,000. Tejara Capital Ltd bought a new position in shares of ReNew Energy Global in the 4th quarter worth approximately $1,553,000. Robeco Institutional Asset Management B.V. raised its position in shares of ReNew Energy Global by 881.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 907,749 shares of the company’s stock worth $5,129,000 after acquiring an additional 815,290 shares in the last quarter. Norges Bank purchased a new position in shares of ReNew Energy Global in the 4th quarter valued at approximately $58,238,000. Finally, Abacus Wealth Partners LLC lifted its stake in shares of ReNew Energy Global by 1,107.4% in the 4th quarter. Abacus Wealth Partners LLC now owns 155,474 shares of the company’s stock valued at $878,000 after purchasing an additional 142,597 shares during the period. Hedge funds and other institutional investors own 43.56% of the company’s stock.

ReNew Energy Global Stock Performance

Shares of RNW opened at $6.15 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.42 and a debt-to-equity ratio of 3.60. The stock has a market cap of $2.23 billion, a P/E ratio of 19.84 and a beta of 1.12. The business’s 50 day moving average price is $6.15 and its 200-day moving average price is $5.56. ReNew Energy Global PLC has a 52 week low of $4.39 and a 52 week high of $8.24.

ReNew Energy Global (NASDAQ:RNW) last posted its quarterly earnings data on Thursday, June 25th. The company reported $0.10 earnings per share for the quarter. The company had revenue of $340.00 million during the quarter, compared to analyst estimates of $291.80 million. ReNew Energy Global had a return on equity of 7.57% and a net margin of 7.18%. Equities research analysts anticipate that ReNew Energy Global PLC will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RNW has been the topic of several recent research reports. Weiss Ratings raised ReNew Energy Global from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, June 24th. Mizuho dropped their target price on shares of ReNew Energy Global from $7.00 to $6.75 and set a “neutral” rating on the stock in a report on Monday, June 1st. Finally, Zacks Research downgraded shares of ReNew Energy Global from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, ReNew Energy Global has an average rating of “Hold” and an average target price of $6.39.

ReNew Energy Global Profile

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.