Counterpoint Mutual Funds LLC Invests $328,000 in ReNew Energy Global Plc (NASDAQ:RNW)

Counterpoint Mutual Funds LLC acquired a new position in shares of ReNew Energy Global Plc (NASDAQ:RNW) in the fourth quarter, HoldingsChannel reports. The fund acquired 47,976 shares of the company’s stock, valued at approximately $328,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC acquired a new stake in shares of ReNew Energy Global during the 4th quarter worth $65,000. SG Americas Securities LLC acquired a new stake in ReNew Energy Global in the 4th quarter valued at $75,000. Ballentine Partners LLC acquired a new stake in ReNew Energy Global in the 4th quarter valued at $107,000. Quantbot Technologies LP increased its holdings in ReNew Energy Global by 454.7% in the 3rd quarter. Quantbot Technologies LP now owns 15,788 shares of the company’s stock valued at $99,000 after purchasing an additional 12,942 shares in the last quarter. Finally, Barclays PLC increased its holdings in ReNew Energy Global by 382.5% in the 3rd quarter. Barclays PLC now owns 26,381 shares of the company’s stock valued at $166,000 after purchasing an additional 20,913 shares in the last quarter. 43.56% of the stock is currently owned by institutional investors and hedge funds.

ReNew Energy Global Stock Up 1.1 %

Shares of NASDAQ RNW opened at $6.18 on Tuesday. The stock has a fifty day moving average price of $6.50 and a 200 day moving average price of $6.27. The company has a current ratio of 0.60, a quick ratio of 0.64 and a debt-to-equity ratio of 4.74. The company has a market cap of $2.24 billion, a P/E ratio of 123.60 and a beta of 0.89. ReNew Energy Global Plc has a 12-month low of $5.15 and a 12-month high of $7.49.

ReNew Energy Global (NASDAQ:RNW) last announced its earnings results on Tuesday, February 18th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The business had revenue of $248.00 million for the quarter, compared to analyst estimates of $20.22 billion. ReNew Energy Global had a net margin of 2.17% and a return on equity of 1.75%. Research analysts anticipate that ReNew Energy Global Plc will post 0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Roth Mkm lowered their price target on ReNew Energy Global from $8.00 to $7.50 and set a “buy” rating for the company in a report on Friday, February 21st.

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.