ReNew Energy Global Plc (NASDAQ:RNW) Short Interest Up 21.5% in February

ReNew Energy Global Plc (NASDAQ:RNW - Get Free Report) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,150,000 shares, a growth of 21.5% from the February 13th total of 1,770,000 shares. Based on an average daily volume of 1,340,000 shares, the short-interest ratio is currently 1.6 days. Currently, 1.4% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Roth Mkm cut their price objective on ReNew Energy Global from $8.00 to $7.50 and set a "buy" rating on the stock in a report on Friday, February 21st.

Hedge Funds Weigh In On ReNew Energy Global

A number of hedge funds have recently bought and sold shares of the business. Rubric Capital Management LP boosted its position in ReNew Energy Global by 1.5% during the third quarter. Rubric Capital Management LP now owns 13,706,102 shares of the company's stock worth $86,211,000 after purchasing an additional 200,000 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of ReNew Energy Global by 191.4% in the fourth quarter. Franklin Resources Inc. now owns 5,693,312 shares of the company's stock valued at $38,885,000 after acquiring an additional 3,739,645 shares in the last quarter. Millennium Management LLC lifted its position in shares of ReNew Energy Global by 8.9% in the fourth quarter. Millennium Management LLC now owns 5,169,576 shares of the company's stock valued at $35,308,000 after acquiring an additional 420,831 shares in the last quarter. Walleye Capital LLC purchased a new position in ReNew Energy Global during the fourth quarter worth approximately $19,302,000. Finally, Northwest & Ethical Investments L.P. lifted its position in ReNew Energy Global by 6.3% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,296,800 shares of the company's stock worth $15,687,000 after buying an additional 135,606 shares in the last quarter. Hedge funds and other institutional investors own 43.56% of the company's stock.

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ReNew Energy Global Stock Performance

ReNew Energy Global stock traded down $0.06 during midday trading on Friday, hitting $6.18. 826,246 shares of the company were exchanged, compared to its average volume of 1,025,479. The firm has a market capitalization of $2.24 billion, a PE ratio of 123.60 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 business has a fifty day simple moving average of $6.44 and a two-hundred day simple moving average of $6.28. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.64 and a current ratio of 0.60.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $20.22 billion. ReNew Energy Global had a return on equity of 1.75% and a net margin of 2.17%. On average, sell-side analysts forecast that ReNew Energy Global will post 0.15 earnings per share for the current year.

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.