M&G PLC bought a new stake in shares of ReNew Energy Global Plc (NASDAQ:RNW - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,349,422 shares of the company's stock, valued at approximately $8,097,000. M&G PLC owned about 0.37% of ReNew Energy Global at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in RNW. Swedbank AB bought a new stake in ReNew Energy Global in the 1st quarter valued at about $4,814,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of ReNew Energy Global by 38.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 177,305 shares of the company's stock valued at $980,000 after buying an additional 48,901 shares in the last quarter. Carrhae Capital LLP boosted its holdings in ReNew Energy Global by 69.3% in the 3rd quarter. Carrhae Capital LLP now owns 3,654,991 shares of the company's stock worth $22,990,000 after buying an additional 1,495,819 shares during the period. Victory Capital Management Inc. grew its stake in ReNew Energy Global by 805.4% in the 2nd quarter. Victory Capital Management Inc. now owns 156,549 shares of the company's stock valued at $977,000 after buying an additional 139,259 shares in the last quarter. Finally, Daymark Wealth Partners LLC bought a new stake in ReNew Energy Global during the 2nd quarter valued at $5,686,000. 43.56% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages recently issued reports on RNW. Roth Mkm lowered their price objective on ReNew Energy Global from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday, August 19th. Morgan Stanley lowered shares of ReNew Energy Global from an "overweight" rating to an "equal weight" rating in a research report on Thursday, September 26th.
Read Our Latest Report on ReNew Energy Global
ReNew Energy Global Trading Down 1.6 %
RNW stock traded down $0.09 on Friday, reaching $5.38. The company's stock had a trading volume of 428,914 shares, compared to its average volume of 872,427. The firm has a market cap of $1.95 billion, a PE ratio of 179.33 and a beta of 0.95. The business has a fifty day simple moving average of $6.00 and a two-hundred day simple moving average of $5.97. ReNew Energy Global Plc has a 12-month low of $5.15 and a 12-month high of $7.79. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.66 and a current ratio of 0.67.
ReNew Energy Global Company Profile
(
Free Report)
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.
See Also
Before you consider ReNew Energy Global, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ReNew Energy Global wasn't on the list.
While ReNew Energy Global currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
