Short Interest in ReNew Energy Global Plc (NASDAQ:RNW) Drops By 34.5%

ReNew Energy Global Plc (NASDAQ:RNW - Get Free Report) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 1,440,000 shares, a drop of 34.5% from the January 15th total of 2,200,000 shares. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.9% of the company's stock are sold short.

Institutional Trading of ReNew Energy Global

Several large investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new position in ReNew Energy Global in the 4th quarter worth $25,000. BNP Paribas Financial Markets acquired a new stake in shares of ReNew Energy Global in the fourth quarter valued at about $25,000. Summit Securities Group LLC acquired a new position in shares of ReNew Energy Global during the 4th quarter worth about $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of ReNew Energy Global during the 4th quarter worth about $52,000. Finally, Signaturefd LLC bought a new stake in ReNew Energy Global during the 4th quarter valued at approximately $65,000. Institutional investors own 43.56% of the company's stock.

ReNew Energy Global Stock Down 2.0 %

Shares of RNW stock traded down $0.13 on Monday, hitting $6.53. The company's stock had a trading volume of 892,405 shares, compared to its average volume of 1,307,522. The company has a debt-to-equity ratio of 4.51, a current ratio of 0.65 and a quick ratio of 0.64. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 108.85 and a beta of 0.89. ReNew Energy Global has a fifty-two week low of $5.15 and a fifty-two week high of $7.49. The firm's fifty day moving average price is $6.77 and its 200-day moving average price is $6.20.

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.