The Manufacturers Life Insurance Company reduced its holdings in ReNew Energy Global Plc (NASDAQ:RNW) by 16.5% during the fourth quarter, according to its latest 13F filing with the SEC. The firm owned 933,181 shares of the company’s stock after selling 185,000 shares during the quarter, representing about 0.26% of ReNew Energy Global worth $6,374,000.
Other institutional investors have also been actively buying and selling shares of ReNew Energy Global. Summit Securities Group LLC acquired a new position in the company during the fourth quarter, valued at approximately $34,000. Signaturefd LLC established a new stake worth $65,000, while SG Americas Securities LLC acquired a position worth $75,000. Ballentine Partners LLC also bought into ReNew Energy Global, with their stake valued at around $107,000.
Hsbc Holdings PLC increased its stake in ReNew Energy Global by 40.3% during the 4th quarter, now owning 16,710 shares valued at $115,000 after purchasing an additional 4,799 shares. Institutional investors currently own 43.56% of the company’s stock.
ReNew Energy Global’s stock performance has shown variability, with shares opening at $6.35 on Wednesday. The company has a 12-month low of $5.15 and a 12-month high of $7.49. The firm’s fifty-day simple moving average is $6.14, and its 200-day simple moving average is $6.28. ReNew Energy Global has a market capitalization of $2.30 billion, a PE ratio of 127.00, and a beta of 0.88. The company reported a quick ratio of 0.64, a current ratio of 0.60, and a debt-to-equity ratio of 4.74.
The company last released its quarterly earnings on Tuesday, February 18th, reporting ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). ReNew Energy Global had revenue of $248.00 million during the quarter. Analysts expect the company to post 0.15 EPS for the current fiscal year.
In recent analyst activity, Roth Mkm reduced their price objective on ReNew Energy Global from $8.00 to $7.50 and maintained a “buy” rating in a research report on Friday, February 21st.
ReNew Energy Global Plc focuses on generating power through non-conventional and renewable energy sources in India, operating through Wind Power and Solar Power segments. The company develops, builds, owns, and operates utility-scale wind and solar energy projects, as well as distributed solar energy projects for commercial and industrial customers.
