ReNew Energy Global (NASDAQ:RNW) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of ReNew Energy Global (NASDAQ:RNW) to an outperform rating in a report released on Wednesday, Stock Target Advisor reports. The firm currently has $22.00 price objective on the stock.

A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded ReNew Energy Global from a buy rating to a hold rating in a report on Tuesday, December 7th. The Goldman Sachs Group started coverage on ReNew Energy Global in a report on Monday, December 6th. They set a buy rating for the company. Bank of America upgraded ReNew Energy Global from a neutral rating to a buy rating and raised their price target for the company from $11.00 to $12.00 in a report on Thursday, October 28th. Finally, Morgan Stanley started coverage on ReNew Energy Global in a report on Tuesday, October 5th. They set an overweight rating for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $14.17.

RNW opened at $6.72 on Wednesday. The business has a fifty day moving average price of $8.16. The company has a quick ratio of 1.36, a current ratio of 1.37 and a debt-to-equity ratio of 2.54. ReNew Energy Global has a 12-month low of $6.54 and a 12-month high of $12.30.

ReNew Energy Global (NASDAQ:RNW) last posted its quarterly earnings data on Thursday, November 18th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $287.00 million during the quarter, compared to analyst estimates of $260.00 million. On average, equities analysts predict that ReNew Energy Global will post 0.11 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in RNW. Balyasny Asset Management LLC purchased a new position in ReNew Energy Global in the third quarter worth about $141,000. Sylebra Capital Ltd purchased a new position in ReNew Energy Global in the third quarter worth about $56,561,000. Jane Street Group LLC purchased a new position in ReNew Energy Global in the third quarter worth about $316,000. Southpoint Capital Advisors LP purchased a new position in ReNew Energy Global in the third quarter worth about $6,502,000. Finally, Thunderbird Partners LLP purchased a new position in ReNew Energy Global in the third quarter worth about $16,877,000.

ReNew Energy Global Company Profile

ReNew Power Private Limited is a renewable energy power producer. It develops, builds, owns, and operates utility-scale wind energy projects, utility-scale solar energy projects, utility-scale firm power projects and distributed solar energy projects. ReNew Power Private Limited, formerly known as RMG Acquisition Corporation II, is based in MIAMI BEACH, Fla.

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