ReNew Energy Global Plc (NASDAQ:RNW – Get Free Report) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 2,150,000 shares, a growth of 21.5% from the February 13th total of 1,770,000 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily volume of 1,340,000 shares, the short-interest ratio is currently 1.6 days.
ReNew Energy Global Price Performance
NASDAQ:RNW traded down $0.05 during midday trading on Tuesday, hitting $6.13. The company had a trading volume of 360,192 shares, compared to its average volume of 1,030,771. ReNew Energy Global has a 52-week low of $5.15 and a 52-week high of $7.49. The stock’s fifty day moving average price is $6.50 and its 200-day moving average price is $6.27. The company has a market capitalization of $2.22 billion, a PE ratio of 122.60 and a beta of 0.89. The company has a quick ratio of 0.64, a current ratio of 0.60 and a debt-to-equity ratio of 4.74.
ReNew Energy Global (NASDAQ:RNW – Get Free Report) last announced 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). ReNew Energy Global had a return on equity of 1.75% and a net margin of 2.17%. The company had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $20.22 billion. As a group, research analysts expect that ReNew Energy Global will post 0.15 earnings per share for the current year.
Analyst Ratings Changes
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Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. purchased a new position in ReNew Energy Global in the fourth quarter worth $25,000. BNP Paribas Financial Markets purchased a new stake in ReNew Energy Global during the fourth quarter valued at about $25,000. Summit Securities Group LLC purchased a new stake in ReNew Energy Global during the fourth quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in ReNew Energy Global during the fourth quarter valued at about $52,000. Finally, Signaturefd LLC purchased a new stake in ReNew Energy Global during the fourth quarter valued at about $65,000. 43.56% of the stock is currently owned by hedge funds and other 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.
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