Carrhae Capital LLP Acquires 1,495,819 Shares of ReNew Energy Global Plc (NASDAQ:RNW)

Carrhae Capital LLP lifted its holdings in ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 69.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,654,991 shares of the company's stock after purchasing an additional 1,495,819 shares during the period. ReNew Energy Global accounts for about 2.6% of Carrhae Capital LLP's investment portfolio, making the stock its 17th biggest holding. Carrhae Capital LLP owned approximately 0.98% of ReNew Energy Global worth $22,990,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Daymark Wealth Partners LLC raised its holdings in ReNew Energy Global by 49.1% in the 3rd quarter. Daymark Wealth Partners LLC now owns 1,358,779 shares of the company's stock worth $8,547,000 after acquiring an additional 447,560 shares during the period. Cubist Systematic Strategies LLC raised its holdings in ReNew Energy Global by 784,825.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 62,794 shares of the company's stock worth $392,000 after acquiring an additional 62,786 shares during the period. The Manufacturers Life Insurance Company raised its holdings in ReNew Energy Global by 8.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 837,181 shares of the company's stock worth $5,224,000 after acquiring an additional 66,172 shares during the period. Millennium Management LLC raised its holdings in ReNew Energy Global by 60.5% in the 2nd quarter. Millennium Management LLC now owns 4,779,016 shares of the company's stock worth $29,821,000 after acquiring an additional 1,802,191 shares during the period. Finally, Rubric Capital Management LP raised its holdings in ReNew Energy Global by 15.3% in the 2nd quarter. Rubric Capital Management LP now owns 13,506,102 shares of the company's stock worth $84,278,000 after acquiring an additional 1,794,402 shares during the period. Institutional investors and hedge funds own 43.56% of the company's stock.

ReNew Energy Global Stock Performance

Shares of NASDAQ:RNW traded up $0.01 on Monday, hitting $6.08. 516,798 shares of the company were exchanged, compared to its average volume of 886,271. The company's 50 day moving average price is $5.99 and its two-hundred day moving average price is $5.97. ReNew Energy Global Plc has a one year low of $5.26 and a one year 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. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 50.67 and a beta of 0.94.

Analyst Ratings Changes

RNW has been the topic of several recent analyst reports. Roth Mkm dropped their target price on shares of ReNew Energy Global from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, August 19th. Morgan Stanley downgraded shares of ReNew Energy Global from an "overweight" rating to an "equal weight" rating in a report on Thursday, September 26th.

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.