ReNew Energy Global (NASDAQ:RNWWW) Trading 30.6% Higher – Time to Buy?

ReNew Energy Global Plc (NASDAQ:RNWWW)’s share price traded up 30.6% on Monday . The company traded as high as $0.17 and last traded at $0.17. 7,973 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 11,368 shares. The stock had previously closed at $0.13.

ReNew Energy Global Stock Up 30.6%

The stock’s 50 day moving average is $0.14 and its two-hundred day moving average is $0.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RNWWW. Highbridge Capital Management LLC lifted its stake in ReNew Energy Global by 65.4% in the 4th quarter. Highbridge Capital Management LLC now owns 2,398,815 shares of the company’s stock worth $391,000 after purchasing an additional 948,500 shares in the last quarter. Aristeia Capital L.L.C. lifted its position in ReNew Energy Global by 85.2% during the fourth quarter. Aristeia Capital L.L.C. now owns 1,076,377 shares of the company’s stock worth $168,000 after buying an additional 495,094 shares in the last quarter. CSS LLC IL lifted its position in ReNew Energy Global by 223.4% during the fourth quarter. CSS LLC IL now owns 683,059 shares of the company’s stock worth $111,000 after buying an additional 471,878 shares in the last quarter. Greenland Capital Management LP lifted its position in ReNew Energy Global by 52.0% during the fourth quarter. Greenland Capital Management LP now owns 425,946 shares of the company’s stock worth $69,000 after buying an additional 145,742 shares in the last quarter. Finally, Wolverine Asset Management LLC raised its holdings in shares of ReNew Energy Global by 94.0% during the 4th quarter. Wolverine Asset Management LLC now owns 191,067 shares of the company’s stock worth $31,000 after acquiring an additional 92,565 shares during the period.

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.