ReNew Energy Global Plc (NASDAQ:RNW) Short Interest Update

ReNew Energy Global Plc (NASDAQ:RNW) was the recipient of a large growth in short interest in February. As of February 15th, there was short interest totalling 1,770,000 shares, a growth of 22.9% from the January 31st total of 1,440,000 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily volume of 1,280,000 shares, the days-to-cover ratio is currently 1.4 days.

Analysts Set New Price Targets

Separately, Roth Mkm dropped their price objective on shares of ReNew Energy Global from $8.00 to $7.50 and set a “buy” rating on the stock in a report on Friday, February 21st.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RNW. Point72 Asset Management L.P. purchased a new stake in ReNew Energy Global in the 4th quarter worth $25,000. BNP Paribas Financial Markets purchased a new position in ReNew Energy Global during the fourth quarter worth approximately $25,000. Summit Securities Group LLC acquired a new position in ReNew Energy Global during the fourth quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in ReNew Energy Global in the 4th quarter valued at $52,000. Finally, Signaturefd LLC acquired a new stake in shares of ReNew Energy Global in the 4th quarter worth $65,000. 43.56% of the stock is owned by institutional investors and hedge funds.

ReNew Energy Global Stock Performance

RNW stock traded up $0.05 during midday trading on Thursday, hitting $6.15. 47,278 shares of the stock traded hands, compared to its average volume of 1,185,082. ReNew Energy Global has a 1-year low of $5.15 and a 1-year high of $7.49. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.64. The stock’s fifty day simple moving average is $6.62 and its 200-day simple moving average is $6.24. The firm has a market cap of $2.23 billion, a P/E ratio of 122.80 and a beta of 0.89.

ReNew Energy Global (NASDAQ:RNW) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $20.22 billion. ReNew Energy Global had a net margin of 2.17% and a return on equity of 1.75%. On average, analysts expect that ReNew Energy Global will post 0.15 earnings per share for the current year.

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.