MASO CAPITAL PARTNERS Ltd Buys New Position in ReNew Energy Global PLC $RNW

MASO CAPITAL PARTNERS Ltd bought a new stake in ReNew Energy Global PLC (NASDAQ:RNW) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 282,758 shares of the company’s stock, valued at approximately $2,177,000. ReNew Energy Global comprises about 3.5% of MASO CAPITAL PARTNERS Ltd’s holdings, making the stock its 7th biggest position.

Other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in shares of ReNew Energy Global during the second quarter worth approximately $29,000. Evergreen Capital Management LLC acquired a new stake in shares of ReNew Energy Global in the second quarter worth $74,000. Tidal Investments LLC grew its stake in shares of ReNew Energy Global by 15.4% in the second quarter. Tidal Investments LLC now owns 13,153 shares of the company’s stock worth $91,000 after acquiring an additional 1,752 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in ReNew Energy Global during the third quarter worth $101,000. Finally, Bank of America Corp DE increased its position in ReNew Energy Global by 722.2% during the fourth quarter. Bank of America Corp DE now owns 15,621 shares of the company’s stock worth $107,000 after acquiring an additional 13,721 shares during the period. 43.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Morgan Stanley set a $6.03 price target on shares of ReNew Energy Global in a report on Monday, February 2nd. Weiss Ratings downgraded shares of ReNew Energy Global from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Finally, Mizuho reduced their target price on shares of ReNew Energy Global from $8.15 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $6.52.

ReNew Energy Global Stock Up 1.7%

RNW opened at $5.31 on Tuesday. The company has a market capitalization of $1.93 billion, a P/E ratio of 12.64 and a beta of 0.90. The company has a debt-to-equity ratio of 3.84, a current ratio of 0.57 and a quick ratio of 0.52. The firm’s fifty day moving average price is $5.40 and its two-hundred day moving average price is $6.62. ReNew Energy Global PLC has a fifty-two week low of $5.05 and a fifty-two week high of $8.24.

ReNew Energy Global (NASDAQ:RNW) last announced its quarterly earnings data on Monday, February 16th. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.12. The company had revenue of $349.01 million during the quarter, compared to analysts’ expectations of $262.33 million. ReNew Energy Global had a net margin of 6.95% and a return on equity of 10.50%. On average, analysts anticipate that ReNew Energy Global PLC will post 0.15 EPS for the current year.

ReNew Energy Global Company 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.