UBS Group AG Boosts Stock Position in ReNew Energy Global PLC $RNW

UBS Group AG grew its stake in ReNew Energy Global PLC (NASDAQ:RNW) by 199.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 637,119 shares of the company’s stock after purchasing an additional 424,290 shares during the period. UBS Group AG owned approximately 0.18% of ReNew Energy Global worth $3,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. MASO CAPITAL PARTNERS Ltd purchased a new stake in shares of ReNew Energy Global in the third quarter valued at approximately $2,177,000. Robeco Institutional Asset Management B.V. grew its position in shares of ReNew Energy Global by 881.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 907,749 shares of the company’s stock valued at $5,129,000 after purchasing an additional 815,290 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of ReNew Energy Global in the second quarter valued at approximately $29,000. Farther Finance Advisors LLC grew its position in shares of ReNew Energy Global by 213.9% in the fourth quarter. Farther Finance Advisors LLC now owns 5,503 shares of the company’s stock valued at $31,000 after purchasing an additional 3,750 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new stake in shares of ReNew Energy Global in the fourth quarter valued at approximately $70,000. 43.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RNW. Zacks Research upgraded ReNew Energy Global from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Weiss Ratings lowered ReNew Energy Global from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 13th. Finally, Morgan Stanley set a $6.03 price target on ReNew Energy Global in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.52.

ReNew Energy Global Trading Up 1.2%

RNW opened at $5.92 on Friday. ReNew Energy Global PLC has a one year low of $4.39 and a one year high of $8.24. The stock has a market capitalization of $2.15 billion, a PE ratio of 19.10 and a beta of 1.07. The business’s 50 day moving average price is $5.12 and its 200 day moving average price is $5.76. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.52 and a current ratio of 0.42.

ReNew Energy Global (NASDAQ:RNW) last released its quarterly earnings data on Monday, May 18th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.17. ReNew Energy Global had a return on equity of 7.57% and a net margin of 7.18%.The firm had revenue of $355.59 million for the quarter, compared to analysts’ expectations of $307.73 million. As a group, equities research analysts expect that ReNew Energy Global PLC will post 0.22 EPS for the current year.

ReNew Energy Global Profile

ReNew Energy Global PLC is an independent power producer specializing in the development, construction, ownership and operation of utility-scale renewable energy projects. Headquartered in Gurugram, India, the company focuses on onshore wind farms, solar photovoltaic plants and hybrid energy systems, often paired with battery energy storage to enhance grid stability and dispatch flexibility. ReNew Energy Global markets electricity under long-term power purchase agreements, serving utilities, distribution companies and corporate offtakers.

The company’s core business activities encompass site identification, project design, procurement, construction management and ongoing asset management.