ReNew Energy Global (NASDAQ:RNW) Reaches New 12-Month High – Still a Buy?

ReNew Energy Global PLC (NASDAQ:RNW)’s share price reached a new 52-week high on Friday . The company traded as high as $7.67 and last traded at $7.58, with a volume of 5411657 shares traded. The stock had previously closed at $6.92.

ReNew Energy Global Stock Up 9.5%

The company has a market capitalization of $2.75 billion, a PE ratio of 47.35 and a beta of 0.88. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 4.44. The firm has a 50 day simple moving average of $6.74 and a two-hundred day simple moving average of $6.53.

Hedge Funds Weigh In On ReNew Energy Global

A number of large investors have recently bought and sold shares of the company. Signaturefd LLC purchased a new stake in ReNew Energy Global in the 4th quarter valued at approximately $65,000. Counterpoint Mutual Funds LLC acquired a new stake in shares of ReNew Energy Global in the 4th quarter valued at approximately $328,000. Northwest & Ethical Investments L.P. boosted its stake in shares of ReNew Energy Global by 6.3% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,296,800 shares of the company’s stock valued at $15,687,000 after buying an additional 135,606 shares in the last quarter. Quantbot Technologies LP grew its holdings in ReNew Energy Global by 148.6% during the fourth quarter. Quantbot Technologies LP now owns 39,254 shares of the company’s stock worth $268,000 after acquiring an additional 23,466 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in ReNew Energy Global during the fourth quarter worth $354,000. Hedge funds and other institutional investors own 43.56% of the company’s stock.

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.