ReNew Energy Global Plc (NASDAQ:RNW) Short Interest Down 50.1% in January

ReNew Energy Global Plc (NASDAQ:RNW - Get Free Report) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 2,200,000 shares, a decline of 50.1% from the December 31st total of 4,410,000 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 1,130,000 shares, the days-to-cover ratio is currently 1.9 days.

ReNew Energy Global Price Performance

Shares of RNW stock traded down $0.12 during trading hours on Monday, hitting $6.36. 970,503 shares of the company's stock were exchanged, compared to its average volume of 1,302,157. The stock's 50-day moving average is $6.66 and its 200-day moving average is $6.13. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 106.02 and a beta of 0.89. The company has a debt-to-equity ratio of 4.51, a current ratio of 0.65 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.

Hedge Funds Weigh In On ReNew Energy Global

Several institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its position in ReNew Energy Global by 50.9% in the second quarter. Renaissance Technologies LLC now owns 34,100 shares of the company's stock valued at $213,000 after purchasing an additional 11,500 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of ReNew Energy Global by 12.7% during the second 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. Cubist Systematic Strategies LLC boosted its stake in ReNew Energy Global by 784,825.0% in the 2nd 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. Millennium Management LLC increased its position in ReNew Energy Global by 60.5% during the 2nd quarter. Millennium Management LLC now owns 4,779,016 shares of the company's stock worth $29,821,000 after buying an additional 1,802,191 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of ReNew Energy Global by 8.6% in the second quarter. The Manufacturers Life Insurance Company now owns 837,181 shares of the company's stock valued at $5,224,000 after acquiring an additional 66,172 shares in the last quarter. 43.56% of the stock is currently owned by institutional investors and hedge funds.

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.