Summit Securities Group LLC Buys New Shares in ReNew Energy Global Plc (NASDAQ:RNW)

Summit Securities Group LLC purchased a new position in ReNew Energy Global Plc (NASDAQ:RNW) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,965 shares of the company’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Signaturefd LLC bought a new position in shares of ReNew Energy Global during the 4th quarter valued at approximately $65,000. SG Americas Securities LLC purchased a new position in ReNew Energy Global during the fourth quarter valued at approximately $75,000. Ballentine Partners LLC bought a new position in shares of ReNew Energy Global in the fourth quarter worth approximately $107,000. Quantbot Technologies LP increased its stake in shares of ReNew Energy Global by 454.7% in the third quarter. Quantbot Technologies LP now owns 15,788 shares of the company’s stock worth $99,000 after purchasing an additional 12,942 shares in the last quarter. Finally, Barclays PLC raised its position in shares of ReNew Energy Global by 382.5% during the 3rd quarter. Barclays PLC now owns 26,381 shares of the company’s stock valued at $166,000 after purchasing an additional 20,913 shares during the period. Hedge funds and other institutional investors own 43.56% of the company’s stock.

Analyst Ratings Changes

Separately, Roth Mkm dropped their target price on shares of ReNew Energy Global from $8.00 to $7.50 and set a “buy” rating for the company in a report on Friday, February 21st.

ReNew Energy Global Stock Down 1.3 %

Shares of RNW opened at $6.01 on Monday. The business’s 50 day moving average is $6.39 and its 200 day moving average is $6.29. The company has a current ratio of 0.60, a quick ratio of 0.64 and a debt-to-equity ratio of 4.74. ReNew Energy Global Plc has a 12-month low of $5.15 and a 12-month high of $7.49. The company has a market capitalization of $2.18 billion, a PE ratio of 120.20 and a beta of 0.89.

ReNew Energy Global (NASDAQ:RNW) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). ReNew Energy Global had a net margin of 2.17% and a return on equity of 1.75%. The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $20.22 billion. Research analysts expect that ReNew Energy Global Plc will post 0.15 earnings per share for the current fiscal year.

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.