Mirae Asset Global Investments Co. Ltd. Sells 44,964 Shares of ReNew Energy Global Plc (NASDAQ:RNW)

Mirae Asset Global Investments Co. Ltd. decreased its stake in ReNew Energy Global Plc (NASDAQ:RNW) by 25.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 128,404 shares of the company’s stock after selling 44,964 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ReNew Energy Global were worth $984,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RNW. Pale Fire Capital SE bought a new position in shares of ReNew Energy Global during the 3rd quarter worth $54,000. Advisors Asset Management Inc. increased its stake in shares of ReNew Energy Global by 18.9% in the third quarter. Advisors Asset Management Inc. now owns 63,412 shares of the company’s stock worth $344,000 after purchasing an additional 10,082 shares in the last quarter. Tejara Capital Ltd increased its stake in shares of ReNew Energy Global by 12.8% in the third quarter. Tejara Capital Ltd now owns 119,428 shares of the company’s stock worth $648,000 after purchasing an additional 13,528 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of ReNew Energy Global in the third quarter valued at approximately $87,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in ReNew Energy Global in the 3rd quarter worth approximately $90,000. 43.56% of the stock is currently owned by hedge funds and other institutional investors.

ReNew Energy Global Price Performance

RNW stock opened at $5.81 on Wednesday. The firm has a 50 day simple moving average of $6.12 and a two-hundred day simple moving average of $6.37. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market cap of $2.17 billion, a PE ratio of 58.10 and a beta of 0.91. ReNew Energy Global Plc has a one year low of $4.78 and a one year high of $7.79.

ReNew Energy Global (NASDAQ:RNW) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). ReNew Energy Global had a net margin of 3.61% and a return on equity of 2.96%. The firm had revenue of $232.00 million for the quarter, compared to analysts’ expectations of $195.90 million. During the same quarter in the previous year, the business earned ($0.15) EPS. On average, analysts predict that ReNew Energy Global Plc will post 0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Mizuho increased their target price on ReNew Energy Global from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Roth Mkm reduced their target price on ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, April 11th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $8.35.

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.