Jennison Associates LLC Has $118,000 Stock Holdings in ReNew Energy Global PLC $RNW

Jennison Associates LLC lessened its stake in shares of ReNew Energy Global PLC (NASDAQ:RNW) by 47.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 17,102 shares of the company’s stock after selling 15,231 shares during the quarter. Jennison Associates LLC’s holdings in ReNew Energy Global were worth $118,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Parallel Advisors LLC lifted its stake in shares of ReNew Energy Global by 766.0% during the 2nd quarter. Parallel Advisors LLC now owns 11,041 shares of the company’s stock worth $76,000 after buying an additional 9,766 shares during the last quarter. MQS Management LLC acquired a new stake in shares of ReNew Energy Global during the 1st quarter worth about $83,000. Abacus Wealth Partners LLC acquired a new stake in shares of ReNew Energy Global during the 2nd quarter worth about $85,000. Signaturefd LLC lifted its stake in shares of ReNew Energy Global by 81.6% during the 1st quarter. Signaturefd LLC now owns 17,245 shares of the company’s stock worth $102,000 after buying an additional 7,749 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of ReNew Energy Global during the 1st quarter worth about $104,000. Institutional investors and hedge funds own 43.56% of the company’s stock.

ReNew Energy Global Price Performance

Shares of ReNew Energy Global stock opened at $7.54 on Monday. ReNew Energy Global PLC has a twelve month low of $5.15 and a twelve month high of $8.24. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 4.42. The company has a 50-day simple moving average of $7.73 and a two-hundred day simple moving average of $7.29. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 23.56 and a beta of 0.89.

ReNew Energy Global (NASDAQ:RNW) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. ReNew Energy Global had a net margin of 5.77% and a return on equity of 8.34%. The business had revenue of $480.35 million during the quarter, compared to analysts’ expectations of $32.46 billion. Analysts forecast that ReNew Energy Global PLC will post 0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Mizuho set a $8.15 price objective on shares of ReNew Energy Global and gave the stock a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.83.

ReNew Energy Global 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.