ReNew Energy Global Plc (NASDAQ:RNW) Stock Position Increased by Syon Capital LLC

Syon Capital LLC boosted its position in ReNew Energy Global Plc (NASDAQ:RNW) by 89.4% during the 4th quarter, HoldingsChannel reports. The firm owned 32,395 shares of the company’s stock after buying an additional 15,295 shares during the quarter. Syon Capital LLC’s holdings in ReNew Energy Global were worth $248,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Pale Fire Capital SE bought a new stake in shares of ReNew Energy Global during the 3rd quarter worth about $54,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of ReNew Energy Global during the 3rd quarter worth about $90,000. Cerity Partners LLC bought a new stake in shares of ReNew Energy Global during the 4th quarter worth about $180,000. Jennison Associates LLC bought a new stake in shares of ReNew Energy Global during the 3rd quarter worth about $216,000. Finally, Graham Capital Management L.P. bought a new stake in shares of ReNew Energy Global during the 3rd quarter worth about $304,000. 43.56% of the stock is currently owned by institutional investors.

ReNew Energy Global Price Performance

NASDAQ RNW opened at $5.51 on Friday. 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 has a market capitalization of $2.06 billion, a PE ratio of 55.10 and a beta of 0.91. The company has a 50 day moving average price of $6.07 and a two-hundred day moving average price of $6.36. ReNew Energy Global Plc has a 12-month low of $4.78 and a 12-month high of $7.79.

ReNew Energy Global (NASDAQ:RNW) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). ReNew Energy Global had a return on equity of 2.96% and a net margin of 3.61%. The firm had revenue of $232.00 million during the quarter, compared to analyst estimates of $195.90 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. As a group, equities analysts predict that ReNew Energy Global Plc will post 0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RNW has been the topic of several recent research reports. Mizuho lifted their price objective on shares of ReNew Energy Global from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Roth Mkm decreased their price target on shares of ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, April 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, ReNew Energy Global presently has a consensus rating of “Buy” and an average target price of $8.35.

About ReNew Energy Global

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.