Seaport Res Ptn Research Analysts Boost Earnings Estimates for ReNew Energy Global plc (NASDAQ:RNW)

ReNew Energy Global plc (NASDAQ:RNWGet Rating) – Seaport Res Ptn upped their FY2024 earnings per share (EPS) estimates for shares of ReNew Energy Global in a research note issued on Monday, June 6th. Seaport Res Ptn analyst A. Storozynski now anticipates that the company will earn $0.31 per share for the year, up from their prior estimate of $0.29.

Separately, Zacks Investment Research upgraded shares of ReNew Energy Global from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $13.42.

ReNew Energy Global stock opened at $7.10 on Wednesday. The firm has a 50 day simple moving average of $7.50 and a 200-day simple moving average of $7.50. The company has a current ratio of 1.14, a quick ratio of 1.12 and a debt-to-equity ratio of 2.65. ReNew Energy Global has a 12-month low of $5.06 and a 12-month high of $12.30.

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in ReNew Energy Global by 986,490.9% in the 1st quarter. Bank of America Corp DE now owns 108,525 shares of the company’s stock worth $892,000 after buying an additional 108,514 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of ReNew Energy Global during the 1st quarter worth $1,879,000. Virtu Financial LLC acquired a new position in shares of ReNew Energy Global during the 1st quarter worth $217,000. Advisors Asset Management Inc. increased its stake in shares of ReNew Energy Global by 57.7% during the 1st quarter. Advisors Asset Management Inc. now owns 36,322 shares of the company’s stock worth $299,000 after purchasing an additional 13,285 shares during the last quarter. Finally, Polarity Investment Partners LP increased its stake in shares of ReNew Energy Global by 5.1% during the 1st quarter. Polarity Investment Partners LP now owns 646,483 shares of the company’s stock worth $5,314,000 after purchasing an additional 31,641 shares during the last quarter. Institutional investors own 38.79% of the company’s stock.

ReNew Energy Global Company Profile (Get Rating)

ReNew Energy Global plc generates power through non-conventional and renewable energy sources in India. It operates through Wind Power and Solar Power segments. It develops, builds, owns, and operates utility scale wind and solar energy, as well as distributed solar energy projects that generate energy for commercial and industrial customers.

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