Mirae Asset Global Investments Co. Ltd. Sells 44,964 Shares of ReNew Energy Global Plc (NASDAQ:RNW)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in ReNew Energy Global Plc (NASDAQ:RNW) by 25.9% in the fourth quarter, Holdings Channel reports. The fund owned 128,404 shares of the company’s stock after selling 44,964 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ReNew Energy Global were worth $984,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sylebra Capital LLC bought a new position in ReNew Energy Global during the third quarter valued at $13,962,000. Rubric Capital Management LP raised its position in ReNew Energy Global by 21.2% in the 3rd quarter. Rubric Capital Management LP now owns 9,897,426 shares of the company’s stock worth $53,743,000 after purchasing an additional 1,731,521 shares during the period. GSA Capital Partners LLP raised its position in ReNew Energy Global by 945.4% in the 3rd quarter. GSA Capital Partners LLP now owns 130,669 shares of the company’s stock worth $710,000 after purchasing an additional 118,169 shares during the period. Graham Capital Management L.P. bought a new stake in ReNew Energy Global in the third quarter worth about $304,000. Finally, Jennison Associates LLC purchased a new position in shares of ReNew Energy Global during the third quarter valued at approximately $216,000. Hedge funds and other institutional investors own 43.56% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RNW. Mizuho increased their price target on ReNew Energy Global from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Roth Mkm reduced their target price on ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $8.35.

ReNew Energy Global Trading Up 2.7 %

Shares of ReNew Energy Global stock opened at $5.81 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 4.57. The firm’s 50 day simple moving average is $6.12 and its two-hundred day simple moving average is $6.37. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 58.10 and a beta of 0.91. ReNew Energy Global Plc has a 12-month low of $4.78 and a 12-month high of $7.79.

ReNew Energy Global (NASDAQ:RNW) last released its earnings results on Tuesday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). ReNew Energy Global had a return on equity of 2.96% and a net margin of 3.61%. The firm had revenue of $232.00 million for the quarter, compared to analyst estimates of $195.90 million. During the same period last year, the firm earned ($0.15) EPS. Analysts predict that ReNew Energy Global Plc will post 0.04 EPS for the current 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.