abrdn plc Sells 645,276 Shares of ReNew Energy Global Plc (NASDAQ:RNW)

abrdn plc lowered its position in shares of ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 50.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 631,541 shares of the company's stock after selling 645,276 shares during the quarter. abrdn plc owned approximately 0.17% of ReNew Energy Global worth $3,963,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV grew its holdings in ReNew Energy Global by 12.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 15,187 shares of the company's stock worth $95,000 after acquiring an additional 1,709 shares during the period. MQS Management LLC bought a new stake in shares of ReNew Energy Global in the 1st quarter valued at about $171,000. Renaissance Technologies LLC raised its position in shares of ReNew Energy Global by 50.9% in the 2nd quarter. Renaissance Technologies LLC now owns 34,100 shares of the company's stock valued at $213,000 after acquiring an additional 11,500 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in ReNew Energy Global by 48.0% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 49,224 shares of the company's stock worth $307,000 after acquiring an additional 15,972 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in ReNew Energy Global by 784,825.0% during the second quarter. Cubist Systematic Strategies LLC now owns 62,794 shares of the company's stock valued at $392,000 after purchasing an additional 62,786 shares during the period. Institutional investors and hedge funds own 43.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RNW shares. Roth Mkm lowered their price objective on shares of ReNew Energy Global from $9.00 to $8.00 and set a "buy" rating for the company in a research 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 Stock Up 2.2 %

ReNew Energy Global stock traded up $0.12 during mid-day trading on Monday, reaching $5.55. The company's stock had a trading volume of 456,131 shares, compared to its average volume of 876,669. 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 Plc has a 12 month low of $5.26 and a 12 month high of $7.79. The business's 50 day simple moving average is $6.02 and its 200 day simple moving average is $5.98. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 181.00 and a beta of 0.95.

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.