Jennison Associates LLC Buys 104,278 Shares of ReNew Energy Global Plc (NASDAQ:RNW)

Jennison Associates LLC increased its position in shares of ReNew Energy Global Plc (NASDAQ:RNWFree Report) by 261.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 144,133 shares of the company’s stock after purchasing an additional 104,278 shares during the period. Jennison Associates LLC’s holdings in ReNew Energy Global were worth $865,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Everett Harris & Co. CA bought a new stake in shares of ReNew Energy Global in the first quarter valued at about $90,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of ReNew Energy Global in the 4th quarter worth approximately $113,000. Victory Capital Management Inc. bought a new position in shares of ReNew Energy Global during the fourth quarter valued at approximately $136,000. Cerity Partners LLC purchased a new position in ReNew Energy Global during the fourth quarter valued at approximately $180,000. Finally, Syon Capital LLC raised its stake in ReNew Energy Global by 89.4% in the fourth quarter. Syon Capital LLC now owns 32,395 shares of the company’s stock worth $248,000 after buying an additional 15,295 shares in the last quarter. 43.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reiterated a “buy” rating and issued a $9.00 price target (up from $8.00) on shares of ReNew Energy Global in a report on Friday, June 7th.

View Our Latest Research Report on ReNew Energy Global

ReNew Energy Global Trading Down 1.7 %

NASDAQ:RNW opened at $5.91 on Wednesday. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 49.25 and a beta of 0.93. ReNew Energy Global Plc has a 52 week low of $4.78 and a 52 week high of $7.79. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 4.65. The firm has a 50 day moving average of $6.14 and a 200 day moving average of $6.35.

ReNew Energy Global (NASDAQ:RNWGet Free Report) last issued its quarterly earnings data on Wednesday, June 5th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. ReNew Energy Global had a return on equity of 3.36% and a net margin of 4.17%. The firm had revenue of $297.00 million during the quarter, compared to analyst estimates of $243.45 million. As a group, sell-side analysts anticipate that ReNew Energy Global Plc will post 0.13 earnings per share for the current fiscal year.

ReNew Energy Global Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ReNew Energy Global (NASDAQ:RNW)

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