Cigogne Management SA Buys New Holdings in ReNew Energy Global Plc (NASDAQ:RNW)

Cigogne Management SA bought a new stake in ReNew Energy Global Plc (NASDAQ:RNW - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 60,000 shares of the company's stock, valued at approximately $410,000.

Several other hedge funds have also recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of ReNew Energy Global during the 4th quarter valued at $34,000. Signaturefd LLC bought a new stake in shares of ReNew Energy Global during the 4th quarter valued at $65,000. SG Americas Securities LLC purchased a new position in ReNew Energy Global during the fourth quarter worth about $75,000. Ballentine Partners LLC purchased a new position in ReNew Energy Global during the fourth quarter worth about $107,000. Finally, Hsbc Holdings PLC grew its position in ReNew Energy Global by 40.3% during the fourth quarter. Hsbc Holdings PLC now owns 16,710 shares of the company's stock worth $115,000 after buying an additional 4,799 shares in the last quarter. 43.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Roth Mkm cut their price objective on ReNew Energy Global from $8.00 to $7.50 and set a "buy" rating for the company in a report on Friday, February 21st.

ReNew Energy Global Price Performance

Shares of RNW traded down $0.11 during midday trading on Tuesday, reaching $6.50. The stock had a trading volume of 77,444 shares, compared to its average volume of 1,061,733. The company's 50-day moving average is $6.13 and its 200 day moving average is $6.27. ReNew Energy Global Plc has a 12-month low of $5.15 and a 12-month high of $7.49. The company has a current ratio of 0.60, a quick ratio of 0.64 and a debt-to-equity ratio of 4.74. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 129.90 and a beta of 0.89.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last issued its 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 company had revenue of $248.00 million for 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, equities analysts predict that ReNew Energy Global Plc will post 0.15 EPS for the current fiscal year.

ReNew Energy Global 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.