ReNew Energy Global (NASDAQ:RNW) Posts Earnings Results, Misses Estimates By $0.07 EPS

ReNew Energy Global (NASDAQ:RNW) released its quarterly earnings results on Tuesday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07), Zacks reports. ReNew Energy Global had a net margin of 2.70% and a return on equity of 2.16%.

ReNew Energy Global Price Performance

Shares of ReNew Energy Global stock traded up $0.23 during trading on Tuesday, reaching $6.76. The company’s stock had a trading volume of 1,809,116 shares, compared to its average volume of 1,182,474. The stock has a market capitalization of $2.45 billion, a P/E ratio of 112.69 and a beta of 0.89. ReNew Energy Global has a one year low of $5.15 and a one year high of $7.49. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 4.51. The stock has a 50-day moving average price of $6.78 and a two-hundred day moving average price of $6.20.

Institutional Trading of ReNew Energy Global

A hedge fund recently raised its stake in ReNew Energy Global stock. Bank of America Corp DE boosted its position in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 722.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,621 shares of the company’s stock after purchasing an additional 13,721 shares during the quarter. Bank of America Corp DE’s holdings in ReNew Energy Global were worth $107,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 43.56% of the company’s stock.

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.