959,751 Shares in ReNew Energy Global PLC $RNW Purchased by ABN Amro Investment Solutions

ABN Amro Investment Solutions bought a new stake in ReNew Energy Global PLC (NASDAQ:RNW) during the 1st quarter, Holdings Channel reports. The firm bought 959,751 shares of the company’s stock, valued at approximately $4,396,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RNW. Quantbot Technologies LP purchased a new stake in shares of ReNew Energy Global during the 2nd quarter valued at approximately $29,000. Farther Finance Advisors LLC increased its stake in ReNew Energy Global by 213.9% during the fourth quarter. Farther Finance Advisors LLC now owns 5,503 shares of the company’s stock worth $31,000 after acquiring an additional 3,750 shares during the last quarter. Quarry LP purchased a new stake in ReNew Energy Global in the third quarter valued at $33,000. SBI Securities Co. Ltd. purchased a new stake in ReNew Energy Global in the fourth quarter valued at $37,000. Finally, DGS Capital Management LLC acquired a new position in shares of ReNew Energy Global in the 4th quarter valued at $65,000. Institutional investors and hedge funds own 43.56% of the company’s stock.

ReNew Energy Global Price Performance

ReNew Energy Global stock opened at $6.22 on Thursday. ReNew Energy Global PLC has a twelve month low of $4.39 and a twelve month high of $8.24. The stock’s fifty day simple moving average is $6.12 and its 200-day simple moving average is $5.56. The company has a current ratio of 0.42, a quick ratio of 0.37 and a debt-to-equity ratio of 3.60. The firm has a market capitalization of $2.26 billion, a P/E ratio of 20.06 and a beta of 1.12.

ReNew Energy Global (NASDAQ:RNW) last released its earnings results on Thursday, June 25th. The company reported $0.10 EPS for the quarter. ReNew Energy Global had a return on equity of 7.57% and a net margin of 7.18%.The firm had revenue of $340.00 million during the quarter, compared to analysts’ expectations of $291.80 million. As a group, equities analysts expect that ReNew Energy Global PLC will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RNW shares. Mizuho lowered their price target on ReNew Energy Global from $7.00 to $6.75 and set a “neutral” rating for the company in a report on Monday, June 1st. Weiss Ratings raised shares of ReNew Energy Global from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, June 24th. Finally, Zacks Research lowered shares of ReNew Energy Global from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, ReNew Energy Global currently has a consensus rating of “Hold” and a consensus target price of $6.39.

About ReNew Energy Global

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.