Franklin Resources Inc. Invests $11.59 Million in ReNew Energy Global Plc (NASDAQ:RNW)

Franklin Resources Inc. bought a new stake in shares of ReNew Energy Global Plc (NASDAQ:RNW - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,953,667 shares of the company's stock, valued at approximately $11,585,000. Franklin Resources Inc. owned 0.54% of ReNew Energy Global as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in shares of ReNew Energy Global by 58.1% during the 3rd quarter. Van ECK Associates Corp now owns 12,278 shares of the company's stock worth $72,000 after acquiring an additional 4,513 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in ReNew Energy Global by 23.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 12,672 shares of the company's stock worth $80,000 after purchasing an additional 2,379 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in ReNew Energy Global by 12.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 15,187 shares of the company's stock valued at $95,000 after purchasing an additional 1,709 shares during the last quarter. Quantbot Technologies LP raised its position in shares of ReNew Energy Global by 454.7% in the third quarter. Quantbot Technologies LP now owns 15,788 shares of the company's stock valued at $99,000 after purchasing an additional 12,942 shares during the period. Finally, Barclays PLC boosted its holdings in shares of ReNew Energy Global by 382.5% during the 3rd quarter. Barclays PLC now owns 26,381 shares of the company's stock worth $166,000 after buying an additional 20,913 shares during the period. Institutional investors own 43.56% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered ReNew Energy Global from an "overweight" rating to an "equal weight" rating in a report on Thursday, September 26th.

ReNew Energy Global Price Performance

Shares of RNW stock traded down $0.07 during trading hours on Friday, hitting $6.90. 2,459,936 shares of the company's stock were exchanged, compared to its average volume of 930,370. ReNew Energy Global Plc has a 52 week low of $5.15 and a 52 week high of $7.79. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 115.02 and a beta of 0.96. The company has a debt-to-equity ratio of 4.51, a current ratio of 0.65 and a quick ratio of 0.64. The stock's 50-day moving average is $6.02 and its 200-day moving average is $6.01.

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.