ReNew Energy Global (NASDAQ:RNW – Get Free Report) announced its earnings results on Monday. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.23, FiscalAI reports. ReNew Energy Global had a net margin of 6.95% and a return on equity of 10.50%. The firm had revenue of $355.59 million for the quarter, compared to analysts’ expectations of $307.73 million.
ReNew Energy Global Price Performance
RNW opened at $5.35 on Monday. The stock has a 50-day moving average price of $5.09 and a 200-day moving average price of $5.82. The company has a debt-to-equity ratio of 3.84, a current ratio of 0.57 and a quick ratio of 0.52. The firm has a market cap of $1.94 billion, a PE ratio of 12.74 and a beta of 1.07. ReNew Energy Global has a 1 year low of $4.39 and a 1 year high of $8.24.
Hedge Funds Weigh In On ReNew Energy Global
Several large investors have recently modified their holdings of the stock. Corient Private Wealth LLC raised its position in shares of ReNew Energy Global by 17.8% in the 4th quarter. Corient Private Wealth LLC now owns 33,166 shares of the company’s stock worth $187,000 after purchasing an additional 5,010 shares during the last quarter. Invesco Ltd. raised its position in shares of ReNew Energy Global by 6.5% in the 4th quarter. Invesco Ltd. now owns 2,501,501 shares of the company’s stock worth $14,133,000 after purchasing an additional 152,439 shares during the last quarter. Man Group plc raised its position in shares of ReNew Energy Global by 663.5% in the 4th quarter. Man Group plc now owns 2,046,780 shares of the company’s stock worth $11,564,000 after purchasing an additional 1,778,705 shares during the last quarter. Engineers Gate Manager LP raised its position in shares of ReNew Energy Global by 81.8% in the 4th quarter. Engineers Gate Manager LP now owns 45,291 shares of the company’s stock worth $256,000 after purchasing an additional 20,383 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of ReNew Energy Global in the 4th quarter worth about $518,000. Hedge funds and other institutional investors own 43.56% of the company’s stock.
Analyst Ratings Changes
Check Out Our Latest Analysis on RNW
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.
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