Picton Mahoney Asset Management Buys 195,195 Shares of ReNew Energy Global Plc (NASDAQ:RNW)

Picton Mahoney Asset Management boosted its position in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 23.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,022,240 shares of the company’s stock after acquiring an additional 195,195 shares during the period. Picton Mahoney Asset Management owned approximately 0.27% of ReNew Energy Global worth $7,831,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Pale Fire Capital SE acquired a new position in ReNew Energy Global in the third quarter worth about $54,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of ReNew Energy Global during the 3rd quarter worth approximately $90,000. Syon Capital LLC acquired a new stake in ReNew Energy Global in the 3rd quarter valued at $93,000. Victory Capital Management Inc. bought a new stake in ReNew Energy Global in the fourth quarter valued at $136,000. Finally, Cerity Partners LLC acquired a new position in ReNew Energy Global during the fourth quarter worth $180,000. Institutional investors own 43.56% of the company’s stock.

ReNew Energy Global Trading Down 0.8 %

NASDAQ RNW traded down $0.05 during trading on Wednesday, reaching $6.02. 302,044 shares of the stock traded hands, compared to its average volume of 613,532. The stock’s 50-day moving average price is $6.00 and its 200 day moving average price is $6.38. 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 firm has a market cap of $2.25 billion, a price-to-earnings ratio of 60.20 and a beta of 0.91. ReNew Energy Global Plc has a fifty-two week low of $4.78 and a fifty-two week high of $7.79.

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

Wall Street Analysts Forecast Growth

Separately, Roth Mkm decreased their price target on ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus 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.