ReNew Energy Global (NASDAQ:RNW) Sets New 1-Year Low - Here's What Happened

ReNew Energy Global Plc (NASDAQ:RNW - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.02 and last traded at $5.85, with a volume of 632 shares traded. The stock had previously closed at $5.82.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm cut their target price on ReNew Energy Global from $8.00 to $7.50 and set a "buy" rating for the company in a research note on Friday, February 21st.

ReNew Energy Global Stock Up 0.6 %

The firm's fifty day simple moving average is $6.57 and its two-hundred day simple moving average is $6.26. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 117.60 and a beta of 0.89. The company has a current ratio of 0.60, a quick ratio of 0.64 and a debt-to-equity ratio of 4.74.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.11) earnings per share 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 business had revenue of $248.00 million during the quarter, compared to analysts' expectations of $20.22 billion. Sell-side analysts anticipate that ReNew Energy Global Plc will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

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

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.

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