Hussman Strategic Advisors Inc. Takes $593,000 Position in ReNew Energy Global PLC $RNW

Hussman Strategic Advisors Inc. acquired a new stake in ReNew Energy Global PLC (NASDAQ:RNW) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 105,000 shares of the company’s stock, valued at approximately $593,000.

Several other hedge funds also recently modified their holdings of the stock. Harvest Portfolios Group Inc. increased its stake in shares of ReNew Energy Global by 3.9% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 41,751 shares of the company’s stock valued at $321,000 after acquiring an additional 1,568 shares in the last quarter. Tidal Investments LLC increased its stake in shares of ReNew Energy Global by 15.4% in the 2nd quarter. Tidal Investments LLC now owns 13,153 shares of the company’s stock valued at $91,000 after acquiring an additional 1,752 shares in the last quarter. Corient Private Wealth LLC grew its position in ReNew Energy Global by 6.9% in the 2nd quarter. Corient Private Wealth LLC now owns 28,643 shares of the company’s stock valued at $198,000 after purchasing an additional 1,849 shares during the period. Cerity Partners LLC grew its position in ReNew Energy Global by 9.3% in the 2nd quarter. Cerity Partners LLC now owns 26,085 shares of the company’s stock valued at $180,000 after purchasing an additional 2,225 shares during the period. Finally, Aberdeen Group plc grew its position in ReNew Energy Global by 14.8% in the 4th quarter. Aberdeen Group plc now owns 23,334 shares of the company’s stock valued at $132,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 43.56% of the company’s stock.

ReNew Energy Global Stock Performance

NASDAQ RNW opened at $5.38 on Monday. The company has a fifty day simple moving average of $5.09 and a 200 day simple moving average of $5.96. ReNew Energy Global PLC has a 12-month low of $4.39 and a 12-month high of $8.24. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 3.84. The company has a market cap of $1.95 billion, a P/E ratio of 12.81 and a beta of 1.07.

ReNew Energy Global (NASDAQ:RNW) last posted its quarterly earnings data on Monday, February 16th. The company reported $0.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.12. The firm had revenue of $349.01 million for the quarter, compared to the consensus estimate of $262.33 million. ReNew Energy Global had a net margin of 6.95% and a return on equity of 10.50%. Sell-side analysts predict that ReNew Energy Global PLC will post 0.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RNW. Morgan Stanley set a $6.03 price target on shares of ReNew Energy Global in a research 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 research report on Friday, March 13th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $6.52.

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.