105,000 Shares in ReNew Energy Global PLC $RNW Acquired by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. bought a new position in shares of ReNew Energy Global PLC (NASDAQ:RNW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 105,000 shares of the company’s stock, valued at approximately $593,000.

Several other hedge funds have also added to or reduced their stakes in the business. Invesco Ltd. boosted its position in ReNew Energy Global by 25.4% during the 3rd quarter. Invesco Ltd. now owns 2,349,062 shares of the company’s stock worth $18,088,000 after buying an additional 475,258 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in ReNew Energy Global by 881.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 907,749 shares of the company’s stock worth $5,129,000 after purchasing an additional 815,290 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in ReNew Energy Global by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 699,905 shares of the company’s stock worth $5,389,000 after purchasing an additional 57,508 shares during the last quarter. UBS Group AG raised its holdings in ReNew Energy Global by 199.4% during the 4th quarter. UBS Group AG now owns 637,119 shares of the company’s stock worth $3,600,000 after purchasing an additional 424,290 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in ReNew Energy Global by 12.7% during the 3rd quarter. Citigroup Inc. now owns 542,792 shares of the company’s stock worth $4,179,000 after purchasing an additional 61,163 shares during the last quarter. 43.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RNW has been the subject of several analyst reports. Weiss Ratings lowered shares of ReNew Energy Global from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. Morgan Stanley set a $6.03 price target on shares of ReNew Energy Global in a report on Monday, February 2nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ReNew Energy Global currently has an average rating of “Reduce” and a consensus target price of $6.52.

ReNew Energy Global Stock Performance

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

ReNew Energy Global (NASDAQ:RNW) last released its quarterly earnings data on Monday, February 16th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.12. The company had revenue of $349.01 million during the quarter, compared to analyst estimates of $262.33 million. ReNew Energy Global had a net margin of 6.95% and a return on equity of 10.50%. As a group, sell-side analysts anticipate that ReNew Energy Global PLC will post 0.07 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.