Athos Capital Ltd Makes New $2.87 Million Investment in ReNew Energy Global PLC $RNW

Athos Capital Ltd bought a new position in shares of ReNew Energy Global PLC (NASDAQ:RNW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 507,079 shares of the company’s stock, valued at approximately $2,865,000. ReNew Energy Global comprises about 1.1% of Athos Capital Ltd’s portfolio, making the stock its 16th biggest holding.

A number of other institutional investors have also modified their holdings of RNW. Norges Bank acquired a new stake in shares of ReNew Energy Global in the fourth quarter valued at $58,238,000. Robeco Institutional Asset Management B.V. grew its stake in shares of ReNew Energy Global by 881.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 907,749 shares of the company’s stock valued at $5,129,000 after buying an additional 815,290 shares in the last quarter. Invesco Ltd. grew its stake in shares of 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 buying an additional 475,258 shares in the last quarter. UBS Group AG grew its stake in shares of ReNew Energy Global by 199.4% in the fourth quarter. UBS Group AG now owns 637,119 shares of the company’s stock valued at $3,600,000 after buying an additional 424,290 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of ReNew Energy Global by 308.6% in the third quarter. Lazard Asset Management LLC now owns 441,660 shares of the company’s stock valued at $3,401,000 after buying an additional 333,564 shares in the last quarter. 43.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RNW has been the subject of a number of research reports. Weiss Ratings cut ReNew Energy Global from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Mizuho dropped their price objective on ReNew Energy Global from $7.00 to $6.75 and set a “neutral” rating for the company in a research note on Monday, June 1st. Finally, Zacks Research raised ReNew Energy Global from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $6.39.

ReNew Energy Global Trading Up 4.6%

RNW opened at $6.34 on Friday. ReNew Energy Global PLC has a 12 month low of $4.39 and a 12 month high of $8.24. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 20.45 and a beta of 1.12. The company has a debt-to-equity ratio of 3.60, a current ratio of 0.42 and a quick ratio of 0.37. The business has a fifty day moving average price of $5.47 and a 200 day moving average price of $5.63.

ReNew Energy Global (NASDAQ:RNW) last released its earnings results on Monday, May 18th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.17. ReNew Energy Global had a return on equity of 7.57% and a net margin of 7.18%.The firm had revenue of $355.59 million during the quarter, compared to analysts’ expectations of $307.73 million. Sell-side analysts expect that ReNew Energy Global PLC will post 0.22 earnings per share for the current fiscal 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.