Cubist Systematic Strategies LLC Invests $1.66 Million in ReNew Energy Global Plc (NASDAQ:RNW)

Cubist Systematic Strategies LLC purchased a new stake in shares of ReNew Energy Global Plc (NASDAQ:RNW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 243,385 shares of the company’s stock, valued at approximately $1,662,000.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. purchased a new position in ReNew Energy Global during the 3rd quarter valued at about $11,585,000. Silphium Asset Management Ltd purchased a new position in ReNew Energy Global during the 4th quarter valued at about $2,049,000. Helikon Investments Ltd purchased a new position in ReNew Energy Global during the 4th quarter valued at about $15,055,000. Norges Bank purchased a new position in ReNew Energy Global during the 4th quarter valued at about $4,107,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of ReNew Energy Global during the 4th quarter worth approximately $4,436,000. Hedge funds and other institutional investors own 43.56% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reduced their target price on ReNew Energy Global from $8.00 to $7.50 and set a “buy” rating on the stock in a report on Friday, February 21st.

ReNew Energy Global Stock Performance

Shares of RNW opened at $6.61 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 0.60 and a debt-to-equity ratio of 4.74. The business’s 50 day moving average price is $6.16 and its 200-day moving average price is $6.30. ReNew Energy Global Plc has a 52 week low of $5.15 and a 52 week high of $7.49. The stock has a market cap of $2.40 billion, a P/E ratio of 132.20 and a beta of 0.88.

ReNew Energy Global (NASDAQ:RNW) last released its quarterly earnings data 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 business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $20.22 billion. ReNew Energy Global had a net margin of 2.17% and a return on equity of 1.75%. Equities research analysts anticipate that ReNew Energy Global Plc will post 0.15 earnings per share for the current fiscal year.

ReNew Energy Global 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.