ReNew Energy Global (NASDAQ:RNW) Price Target Lowered to $8.00 at Roth Mkm

ReNew Energy Global (NASDAQ:RNW) had its price target reduced by Roth Mkm from $9.00 to $8.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

ReNew Energy Global Price Performance

Shares of NASDAQ RNW opened at $5.53 on Monday. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 46.08 and a beta of 0.93. ReNew Energy Global has a 52 week low of $4.78 and a 52 week high of $7.79. The firm has a 50-day simple moving average of $5.93 and a 200-day simple moving average of $6.05. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 4.65.

ReNew Energy Global (NASDAQ:RNW) last released its quarterly earnings data on Wednesday, June 5th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The company had revenue of $297.00 million during the quarter, compared to the consensus estimate of $243.45 million. ReNew Energy Global had a net margin of 1.53% and a return on equity of 1.23%. On average, equities analysts predict that ReNew Energy Global will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cerity Partners LLC purchased a new stake in shares of ReNew Energy Global in the fourth quarter valued at about $180,000. Syon Capital LLC increased its holdings in shares of ReNew Energy Global by 89.4% during the 4th quarter. Syon Capital LLC now owns 32,395 shares of the company’s stock worth $248,000 after buying an additional 15,295 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of ReNew Energy Global during the 4th quarter valued at approximately $136,000. Charles Schwab Investment Management Inc. raised its position in ReNew Energy Global by 35.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 658,067 shares of the company’s stock valued at $5,041,000 after purchasing an additional 170,547 shares during the period. Finally, Picton Mahoney Asset Management raised its holdings in ReNew Energy Global by 23.6% in the 4th quarter. Picton Mahoney Asset Management now owns 1,022,240 shares of the company’s stock valued at $7,831,000 after buying an additional 195,195 shares during the period. Hedge funds and other institutional investors own 43.56% of the company’s stock.

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.