IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases 15,972 Shares of ReNew Energy Global Plc (NASDAQ:RNW)

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 48.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,224 shares of the company’s stock after buying an additional 15,972 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in ReNew Energy Global were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of RNW. Swedbank AB purchased a new stake in shares of ReNew Energy Global in the 1st quarter worth $4,814,000. Rubric Capital Management LP increased its stake in shares of ReNew Energy Global by 5.3% in the 4th quarter. Rubric Capital Management LP now owns 10,420,000 shares of the company’s stock worth $79,817,000 after purchasing an additional 522,574 shares in the last quarter. Fiera Capital Corp purchased a new stake in ReNew Energy Global in the 4th quarter worth $1,567,000. Picton Mahoney Asset Management increased its stake 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 worth $7,831,000 after buying an additional 195,195 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in ReNew Energy Global by 35.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 658,067 shares of the company’s stock worth $5,041,000 after buying an additional 170,547 shares in the last quarter. 43.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Roth Mkm cut their price target on ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, August 19th.

ReNew Energy Global Price Performance

RNW stock traded up $0.07 during trading on Friday, reaching $5.68. The company’s stock had a trading volume of 302,386 shares, compared to its average volume of 876,236. The company has a market capitalization of $2.12 billion, a P/E ratio of 47.00 and a beta of 0.93. The company’s fifty day moving average is $5.86 and its 200-day moving average is $6.02. 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 Plc has a 1 year low of $4.78 and a 1 year high of $7.79.

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

ReNew Energy Global 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.