Carrhae Capital LLP Sells 308,365 Shares of ReNew Energy Global PLC $RNW

Carrhae Capital LLP cut its stake in shares of ReNew Energy Global PLC (NASDAQ:RNW) by 11.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,458,933 shares of the company’s stock after selling 308,365 shares during the quarter. ReNew Energy Global makes up approximately 0.5% of Carrhae Capital LLP’s portfolio, making the stock its 29th biggest position. Carrhae Capital LLP owned 0.68% of ReNew Energy Global worth $13,893,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RNW. Robeco Institutional Asset Management B.V. raised its position in shares of ReNew Energy Global by 881.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 907,749 shares of the company’s stock worth $5,129,000 after acquiring an additional 815,290 shares during the last quarter. Invesco Ltd. boosted its holdings in ReNew Energy Global by 25.4% in the third quarter. Invesco Ltd. now owns 2,349,062 shares of the company’s stock valued at $18,088,000 after acquiring an additional 475,258 shares during the last quarter. UBS Group AG increased its position in ReNew Energy Global by 199.4% during the 4th quarter. UBS Group AG now owns 637,119 shares of the company’s stock valued at $3,600,000 after purchasing an additional 424,290 shares during the period. Lazard Asset Management LLC increased its position in ReNew Energy Global by 308.6% during the 3rd quarter. Lazard Asset Management LLC now owns 441,660 shares of the company’s stock valued at $3,401,000 after purchasing an additional 333,564 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in ReNew Energy Global by 94.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 642,397 shares of the company’s stock worth $4,439,000 after purchasing an additional 311,297 shares during the last quarter. Institutional investors own 43.56% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Zacks Research upgraded shares of ReNew Energy Global from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Morgan Stanley set a $6.03 price objective on shares of ReNew Energy Global in a research report on Monday, February 2nd. Finally, Weiss Ratings lowered shares of ReNew Energy Global from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $6.52.

ReNew Energy Global Stock Performance

NASDAQ:RNW opened at $5.92 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.42 and a debt-to-equity ratio of 3.60. ReNew Energy Global PLC has a twelve month low of $4.39 and a twelve month high of $8.24. The company has a fifty day moving average of $5.12 and a 200-day moving average of $5.76. The firm has a market capitalization of $2.15 billion, a P/E ratio of 19.10 and a beta of 1.07.

ReNew Energy Global (NASDAQ:RNW) last issued its earnings results on Monday, May 18th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.17. The business had revenue of $355.59 million for the quarter, compared to analyst estimates of $307.73 million. ReNew Energy Global had a net margin of 7.18% and a return on equity of 7.57%. As a group, sell-side analysts anticipate that ReNew Energy Global PLC will post 0.22 EPS for the current year.

ReNew Energy Global Profile

ReNew Energy Global PLC is an independent power producer specializing in the development, construction, ownership and operation of utility-scale renewable energy projects. Headquartered in Gurugram, India, the company focuses on onshore wind farms, solar photovoltaic plants and hybrid energy systems, often paired with battery energy storage to enhance grid stability and dispatch flexibility. ReNew Energy Global markets electricity under long-term power purchase agreements, serving utilities, distribution companies and corporate offtakers.

The company’s core business activities encompass site identification, project design, procurement, construction management and ongoing asset management.