ReNew Energy Global (NASDAQ:RNW) Sees Large Volume Increase

Shares of ReNew Energy Global Plc (NASDAQ:RNW) saw unusually-strong trading volume on Tuesday . Approximately 253,721 shares were traded during trading, a decline of 55% from the previous session’s volume of 564,636 shares.The stock last traded at $5.99 and had previously closed at $5.97.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Mizuho boosted their target price on shares of ReNew Energy Global from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. The Goldman Sachs Group boosted their price target on shares of ReNew Energy Global from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $8.55.

ReNew Energy Global Trading Up 2.0 %

The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 4.57. The stock’s 50 day moving average is $6.44 and its 200-day moving average is $6.33. The company has a market cap of $2.24 billion, a PE ratio of 60.00 and a beta of 0.93.

ReNew Energy Global (NASDAQ:RNW) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). ReNew Energy Global had a net margin of 3.61% and a return on equity of 2.96%. The business had revenue of $232.00 million during the quarter, compared to the consensus estimate of $195.90 million. During the same period in the previous year, the business posted ($0.15) EPS.

Institutional Trading of ReNew Energy Global

Institutional investors have recently bought and sold shares of the stock. Vident Investment Advisory LLC lifted its stake in shares of ReNew Energy Global by 8.4% during the 4th quarter. Vident Investment Advisory LLC now owns 25,127 shares of the company’s stock worth $138,000 after acquiring an additional 1,954 shares during the last quarter. UBS Group AG boosted its stake in shares of ReNew Energy Global by 12.2% during the fourth quarter. UBS Group AG now owns 18,794 shares of the company’s stock valued at $103,000 after purchasing an additional 2,042 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of ReNew Energy Global by 4.8% in the first quarter. Advisors Asset Management Inc. now owns 47,543 shares of the company’s stock worth $267,000 after purchasing an additional 2,182 shares during the last quarter. Sei Investments Co. increased its stake in ReNew Energy Global by 21.4% in the 2nd quarter. Sei Investments Co. now owns 17,000 shares of the company’s stock worth $110,000 after buying an additional 3,000 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in ReNew Energy Global by 29.4% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 15,476 shares of the company’s stock valued at $93,000 after buying an additional 3,515 shares in the last quarter. 43.56% of the stock is currently 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.