M&G PLC Raises Holdings in ReNew Energy Global PLC $RNW

M&G PLC raised its holdings in ReNew Energy Global PLC (NASDAQ:RNW) by 14.6% during the second quarter, Holdings Channel reports. The institutional investor owned 2,188,498 shares of the company’s stock after buying an additional 278,863 shares during the period. M&G PLC’s holdings in ReNew Energy Global were worth $15,319,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAM Holding AG boosted its holdings in ReNew Energy Global by 18.8% in the second quarter. GAM Holding AG now owns 190,000 shares of the company’s stock valued at $1,313,000 after purchasing an additional 30,000 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in ReNew Energy Global by 18.3% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,173 shares of the company’s stock worth $326,000 after buying an additional 7,283 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of ReNew Energy Global by 487.4% in the second quarter. Y Intercept Hong Kong Ltd now owns 104,056 shares of the company’s stock valued at $719,000 after acquiring an additional 86,342 shares during the period. Carrera Capital Advisors increased its holdings in shares of ReNew Energy Global by 164.5% in the 2nd quarter. Carrera Capital Advisors now owns 330,881 shares of the company’s stock valued at $2,286,000 after acquiring an additional 205,782 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in ReNew Energy Global by 103.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 50,933 shares of the company’s stock worth $352,000 after purchasing an additional 25,913 shares during the period. 43.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on RNW shares. Weiss Ratings started coverage on ReNew Energy Global in a research note on Tuesday. They set a “hold (c)” rating for the company. Mizuho set a $8.15 price objective on shares of ReNew Energy Global and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.83.

ReNew Energy Global Trading Down 0.4%

Shares of RNW opened at $7.33 on Thursday. ReNew Energy Global PLC has a 1-year low of $5.18 and a 1-year high of $8.24. The company has a debt-to-equity ratio of 4.34, a current ratio of 0.77 and a quick ratio of 0.73. The firm has a 50 day simple moving average of $7.70 and a 200-day simple moving average of $7.34. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 23.65 and a beta of 0.89.

ReNew Energy Global (NASDAQ:RNW) last announced its earnings results on Monday, November 10th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). ReNew Energy Global had a net margin of 5.37% and a return on equity of 7.90%. The company had revenue of $433.94 million for the quarter, compared to analyst estimates of $403.19 million. Equities analysts forecast that ReNew Energy Global PLC will post 0.15 EPS for the current fiscal year.

About ReNew Energy Global

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.