ReNew Energy Global Plc (NASDAQ:RNW) Short Interest Update

ReNew Energy Global Plc (NASDAQ:RNW) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 3,790,000 shares, a growth of 90.5% from the March 31st total of 1,990,000 shares. Based on an average daily volume of 996,700 shares, the short-interest ratio is currently 3.8 days. Currently, 2.5% of the shares of the stock are short sold.

ReNew Energy Global Stock Performance

ReNew Energy Global stock opened at $6.38 on Thursday. The firm has a market capitalization of $2.31 billion, a P/E ratio of 127.60 and a beta of 0.89. The company’s 50-day moving average is $6.13 and its 200 day moving average is $6.27. ReNew Energy Global has a 1-year low of $5.15 and a 1-year high of $7.49. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.64.

ReNew Energy Global (NASDAQ:RNW) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). ReNew Energy Global had a return on equity of 1.75% and a net margin of 2.17%. The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $20.22 billion. Research analysts forecast that ReNew Energy Global will post 0.15 EPS for the current year.

Institutional Trading of ReNew Energy Global

Large investors have recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in shares of ReNew Energy Global in the 4th quarter valued at about $25,000. BNP Paribas Financial Markets acquired a new stake in shares of ReNew Energy Global during the 4th quarter worth approximately $25,000. Hsbc Holdings PLC grew its holdings in ReNew Energy Global by 40.3% in the fourth quarter. Hsbc Holdings PLC now owns 16,710 shares of the company’s stock valued at $115,000 after purchasing an additional 4,799 shares during the period. Summit Securities Group LLC purchased a new stake in ReNew Energy Global during the 4th quarter worth approximately $34,000. Finally, Everett Harris & Co. CA raised its stake in ReNew Energy Global by 14.3% in the 4th quarter. Everett Harris & Co. CA now owns 40,000 shares of the company’s stock valued at $273,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 43.56% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Roth Mkm decreased their target price on shares of ReNew Energy Global from $8.00 to $7.50 and set a “buy” rating on the stock in a research report on Friday, February 21st.

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.