Walleye Capital LLC Acquires New Position in ReNew Energy Global Plc (NASDAQ:RNW)

Walleye Capital LLC bought a new position in shares of ReNew Energy Global Plc (NASDAQ:RNW) during the 4th quarter, Holdings Channel reports. The firm bought 2,825,994 shares of the company’s stock, valued at approximately $19,302,000.

Other hedge funds also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of ReNew Energy Global in the 4th quarter worth about $34,000. Signaturefd LLC purchased a new stake in shares of ReNew Energy Global in the fourth quarter valued at about $65,000. SG Americas Securities LLC acquired a new stake in shares of ReNew Energy Global in the fourth quarter valued at approximately $75,000. Ballentine Partners LLC purchased a new position in shares of ReNew Energy Global during the 4th quarter worth approximately $107,000. Finally, Quadrant Capital Group LLC acquired a new position in shares of ReNew Energy Global during the 4th quarter worth approximately $133,000. 43.56% of the stock is owned by hedge funds and other institutional investors.

ReNew Energy Global Stock Performance

NASDAQ:RNW opened at $6.06 on Tuesday. 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 firm has a market cap of $2.20 billion, a PE ratio of 121.20 and a beta of 0.89. The firm has a 50 day simple moving average of $6.19 and a 200-day simple moving average of $6.24. ReNew Energy Global Plc has a 1-year low of $5.15 and a 1-year high of $7.49.

ReNew Energy Global (NASDAQ:RNW) last issued 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). ReNew Energy Global had a net margin of 2.17% and a return on equity of 1.75%. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $20.22 billion. On average, equities analysts expect that ReNew Energy Global Plc will post 0.15 EPS for the current year.

Wall Street Analyst Weigh In

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

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.