ReNew Energy Global (NASDAQ:RNW) Given New $7.50 Price Target at Roth Mkm

ReNew Energy Global (NASDAQ:RNW) had its price objective reduced by Roth Mkm from $8.00 to $7.50 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

ReNew Energy Global Price Performance

RNW stock opened at $6.11 on Friday. The firm has a 50 day moving average of $6.75 and a 200-day moving average of $6.21. The firm has a market capitalization of $2.22 billion, a P/E ratio of 122.20 and a beta of 0.89. ReNew Energy Global has a 12 month low of $5.15 and a 12 month high of $7.49. The company has a current ratio of 0.60, a quick ratio of 0.64 and a debt-to-equity ratio of 4.74.

ReNew Energy Global (NASDAQ:RNW) last posted its 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). The firm had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $20.22 billion. ReNew Energy Global had a return on equity of 1.75% and a net margin of 2.17%. As a group, sell-side analysts predict that ReNew Energy Global will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ReNew Energy Global

A number of institutional investors have recently added to or reduced their stakes in the business. Rubric Capital Management LP boosted its position in shares of ReNew Energy Global by 1.5% during the 3rd quarter. Rubric Capital Management LP now owns 13,706,102 shares of the company’s stock valued at $86,211,000 after acquiring an additional 200,000 shares during the last quarter. Franklin Resources Inc. raised its stake in ReNew Energy Global by 191.4% in the fourth quarter. Franklin Resources Inc. now owns 5,693,312 shares of the company’s stock valued at $38,885,000 after purchasing an additional 3,739,645 shares in the last quarter. Millennium Management LLC lifted its position in ReNew Energy Global by 8.9% during the fourth quarter. Millennium Management LLC now owns 5,169,576 shares of the company’s stock valued at $35,308,000 after purchasing an additional 420,831 shares during the last quarter. Walleye Capital LLC purchased a new position in ReNew Energy Global in the 4th quarter worth approximately $19,302,000. Finally, Northwest & Ethical Investments L.P. increased its holdings in shares of ReNew Energy Global by 6.3% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,296,800 shares of the company’s stock worth $15,687,000 after buying an additional 135,606 shares during the last quarter. 43.56% of the stock is currently owned by institutional investors.

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.