ReNew Energy Global PLC $RNW is BCK Capital Management LP’s 10th Largest Position

BCK Capital Management LP lessened its holdings in ReNew Energy Global PLC (NASDAQ:RNW) by 30.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 389,770 shares of the company’s stock after selling 169,390 shares during the period. ReNew Energy Global accounts for approximately 2.3% of BCK Capital Management LP’s portfolio, making the stock its 10th largest holding. BCK Capital Management LP owned approximately 0.11% of ReNew Energy Global worth $2,693,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Millennium Management LLC raised its position in shares of ReNew Energy Global by 22.9% during the 1st quarter. Millennium Management LLC now owns 6,351,699 shares of the company’s stock worth $37,412,000 after purchasing an additional 1,182,123 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of ReNew Energy Global in the first quarter worth $34,651,000. Invesco Ltd. raised its holdings in shares of ReNew Energy Global by 16.8% in the first quarter. Invesco Ltd. now owns 2,476,280 shares of the company’s stock worth $14,585,000 after acquiring an additional 356,311 shares during the last quarter. Picton Mahoney Asset Management lifted its position in shares of ReNew Energy Global by 33.1% in the first quarter. Picton Mahoney Asset Management now owns 944,707 shares of the company’s stock valued at $5,563,000 after acquiring an additional 234,696 shares in the last quarter. Finally, Aperture Investors LLC boosted its stake in shares of ReNew Energy Global by 18.7% during the first quarter. Aperture Investors LLC now owns 604,807 shares of the company’s stock valued at $3,562,000 after acquiring an additional 95,471 shares during the last quarter. 43.56% of the stock is owned by hedge funds and other institutional investors.

ReNew Energy Global Price Performance

RNW stock opened at $7.55 on Friday. ReNew Energy Global PLC has a 52-week low of $5.18 and a 52-week high of $8.24. The stock’s fifty day simple moving average is $7.72 and its 200-day simple moving average is $7.32. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 4.42. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 23.59 and a beta of 0.89.

ReNew Energy Global (NASDAQ:RNW) last released its earnings results on Wednesday, August 13th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.11 by $0.05. ReNew Energy Global had a return on equity of 8.34% and a net margin of 5.77%.The firm had revenue of $480.35 million during the quarter, compared to analyst estimates of $32.46 billion. Equities research analysts expect that ReNew Energy Global PLC will post 0.15 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Mizuho set a $8.15 target price on shares of ReNew Energy Global and gave the company a “neutral” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, ReNew Energy Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.83.

ReNew Energy Global Company 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.