ReNew Energy Global (NASDAQ:RNWWW) Stock Price Down 7.7% – Here’s Why

Shares of ReNew Energy Global Plc (NASDAQ:RNWWW) fell 7.7% during mid-day trading on Thursday . The company traded as low as $0.27 and last traded at $0.30. 3,082 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 19,858 shares. The stock had previously closed at $0.33.

ReNew Energy Global Price Performance

The stock has a 50 day moving average of $0.35 and a 200-day moving average of $0.42.

Institutional Investors Weigh In On ReNew Energy Global

An institutional investor recently raised its position in ReNew Energy Global stock. Privium Fund Management B.V. boosted its stake in shares of ReNew Energy Global Plc (NASDAQ:RNWWW) by 17.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 508,575 shares of the company’s stock after purchasing an additional 75,277 shares during the period. Privium Fund Management B.V.’s holdings in ReNew Energy Global were worth $254,000 at the end of the most recent quarter.

About ReNew Energy Global

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.