Roth Mkm Lowers ReNew Energy Global (NASDAQ:RNW) Price Target to $7.50

ReNew Energy Global (NASDAQ:RNW - Free Report) had its price objective cut by Roth Mkm from $8.00 to $7.50 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

ReNew Energy Global Stock Performance

Shares of NASDAQ RNW traded up $0.22 during mid-day trading on Friday, reaching $6.40. 1,423,198 shares of the company's stock were exchanged, compared to its average volume of 1,229,867. The firm has a 50-day moving average price of $6.71 and a two-hundred day moving average price of $6.22. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.64. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 128.00 and a beta of 0.89. ReNew Energy Global has a 52 week low of $5.15 and a 52 week high of $7.49.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.07). ReNew Energy Global had a return on equity of 1.75% and a net margin of 2.17%. The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $20.22 billion. Analysts predict that ReNew Energy Global will post 0.15 EPS for the current year.

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Institutional Trading of ReNew Energy Global

A number of large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in shares of ReNew Energy Global during the 4th quarter valued at $25,000. BNP Paribas Financial Markets purchased a new stake in ReNew Energy Global during the fourth quarter valued at about $25,000. Summit Securities Group LLC purchased a new stake in ReNew Energy Global during the fourth quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in ReNew Energy Global during the fourth quarter worth about $52,000. Finally, Signaturefd LLC purchased a new position in shares of ReNew Energy Global in the fourth quarter worth about $65,000. 43.56% of the stock is owned by hedge funds and other institutional investors.

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.