ReNew Energy Global (NASDAQ:RNW - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07), Zacks reports. The business 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%.
ReNew Energy Global Stock Down 3.8 %
NASDAQ RNW traded down $0.24 on Friday, hitting $6.11. The stock had a trading volume of 1,459,675 shares, compared to its average volume of 1,108,129. The business's fifty day moving average price is $6.75 and its 200 day moving average price is $6.21. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.64. ReNew Energy Global has a 52-week low of $5.15 and a 52-week high of $7.49. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 122.20 and a beta of 0.89.
Hedge Funds Weigh In On ReNew Energy Global
An institutional investor recently raised its position in ReNew Energy Global stock. Bank of America Corp DE grew its position in ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 722.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,621 shares of the company's stock after purchasing an additional 13,721 shares during the quarter. Bank of America Corp DE's holdings in ReNew Energy Global were worth $107,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 43.56% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Roth Mkm cut their price objective on shares of ReNew Energy Global from $8.00 to $7.50 and set a "buy" rating on the stock in a report on Friday.
Check Out Our Latest Stock Report on ReNew Energy Global
ReNew Energy Global Company Profile
(
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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.
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