SEB Asset Management AB Takes $436,000 Position in ReNew Energy Global PLC $RNW

SEB Asset Management AB bought a new stake in shares of ReNew Energy Global PLC (NASDAQ:RNW) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 95,272 shares of the company’s stock, valued at approximately $436,000.

Other hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in shares of ReNew Energy Global by 722.2% in the fourth quarter. Bank of America Corp DE now owns 15,621 shares of the company’s stock worth $107,000 after buying an additional 13,721 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of ReNew Energy Global by 94.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 642,397 shares of the company’s stock valued at $4,439,000 after acquiring an additional 311,297 shares during the last quarter. Quantbot Technologies LP purchased a new stake in ReNew Energy Global during the 2nd quarter valued at about $29,000. Cerity Partners LLC boosted its holdings in ReNew Energy Global by 9.3% during the 2nd quarter. Cerity Partners LLC now owns 26,085 shares of the company’s stock valued at $180,000 after acquiring an additional 2,225 shares during the period. Finally, BNP Paribas Financial Markets grew its position in ReNew Energy Global by 1,217.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 72,647 shares of the company’s stock worth $502,000 after acquiring an additional 67,134 shares during the last quarter. 43.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on RNW shares. Weiss Ratings upgraded ReNew Energy Global from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 24th. Zacks Research cut shares of ReNew Energy Global from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Finally, Mizuho decreased their target price on shares of ReNew Energy Global from $7.00 to $6.75 and set a “neutral” rating on the stock in a research note on Monday, June 1st. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.39.

ReNew Energy Global Stock Down 1.6%

NASDAQ RNW opened at $6.15 on Friday. ReNew Energy Global PLC has a 1 year low of $4.39 and a 1 year high of $8.24. The stock has a market capitalization of $2.23 billion, a PE ratio of 19.84 and a beta of 1.12. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.42 and a quick ratio of 0.37. The business’s 50-day moving average is $6.15 and its 200 day moving average is $5.56.

ReNew Energy Global (NASDAQ:RNW) last released its quarterly earnings results on Thursday, June 25th. The company reported $0.10 EPS for the quarter. ReNew Energy Global had a return on equity of 7.57% and a net margin of 7.18%.The business had revenue of $340.00 million during the quarter, compared to analyst estimates of $291.80 million. Sell-side analysts forecast that ReNew Energy Global PLC will post 0.22 earnings per share for the current year.

About ReNew Energy Global

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.