ReNew Energy Global Plc (NASDAQ:RNW – Get Free Report)’s stock price traded down 5.7% on Friday . The company traded as low as $5.46 and last traded at $5.58. 122,295 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 876,448 shares. The stock had previously closed at $5.92.
Analysts Set New Price Targets
Separately, Roth Mkm reissued a “buy” rating and issued a $9.00 price target (up previously from $8.00) on shares of ReNew Energy Global in a research note on Friday, June 7th.
Read Our Latest Research Report on RNW
ReNew Energy Global Trading Down 6.9 %
ReNew Energy Global (NASDAQ:RNW – Get Free Report) last released its earnings results on Wednesday, June 5th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The company had revenue of $297.00 million during the quarter, compared to the consensus estimate of $243.45 million. ReNew Energy Global had a net margin of 4.17% and a return on equity of 3.36%. As a group, research analysts anticipate that ReNew Energy Global Plc will post 0.13 earnings per share for the current fiscal year.
Institutional Trading of ReNew Energy Global
Large investors have recently modified their holdings of the company. Rubric Capital Management LP grew its position in ReNew Energy Global by 15.3% during the second quarter. Rubric Capital Management LP now owns 13,506,102 shares of the company’s stock worth $84,278,000 after buying an additional 1,794,402 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of ReNew Energy Global by 11.9% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 5,669,321 shares of the company’s stock valued at $35,377,000 after acquiring an additional 600,850 shares during the period. Millennium Management LLC lifted its holdings in ReNew Energy Global by 60.5% during the 2nd quarter. Millennium Management LLC now owns 4,779,016 shares of the company’s stock valued at $29,821,000 after purchasing an additional 1,802,191 shares during the last quarter. Picton Mahoney Asset Management grew its stake in ReNew Energy Global by 8.8% during the second quarter. Picton Mahoney Asset Management now owns 1,257,967 shares of the company’s stock worth $7,850,000 after buying an additional 102,193 shares during the last quarter. Finally, Daymark Wealth Partners LLC acquired a new stake in shares of ReNew Energy Global during the second quarter worth approximately $5,686,000. 43.56% of the stock is owned by institutional investors.
ReNew Energy Global Company Profile
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.
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