State of New Jersey Common Pension Fund D Acquires Shares of 649,491 ReNew Energy Global Plc (NASDAQ:RNW)

State of New Jersey Common Pension Fund D bought a new position in shares of ReNew Energy Global Plc (NASDAQ:RNW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 649,491 shares of the company's stock, valued at approximately $4,436,000. State of New Jersey Common Pension Fund D owned about 0.18% of ReNew Energy Global at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RNW. Van ECK Associates Corp grew its position in shares of ReNew Energy Global by 58.1% in the third quarter. Van ECK Associates Corp now owns 12,278 shares of the company's stock valued at $72,000 after purchasing an additional 4,513 shares during the last quarter. SG Americas Securities LLC purchased a new stake in ReNew Energy Global during the 4th quarter worth about $75,000. Robeco Institutional Asset Management B.V. raised its stake in ReNew Energy Global by 23.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,672 shares of the company's stock valued at $80,000 after purchasing an additional 2,379 shares during the last quarter. Quantbot Technologies LP lifted its holdings in ReNew Energy Global by 454.7% in the 3rd quarter. Quantbot Technologies LP now owns 15,788 shares of the company's stock valued at $99,000 after purchasing an additional 12,942 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of ReNew Energy Global during the 4th quarter worth about $107,000. 43.56% of the stock is owned by hedge funds and other institutional investors.

ReNew Energy Global Trading Down 3.8 %

ReNew Energy Global stock traded down $0.24 during trading on Friday, hitting $6.11. The company's stock had a trading volume of 1,459,675 shares, compared to its average volume of 1,108,129. The stock's fifty day moving average is $6.75 and its 200 day moving average is $6.21. 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 Plc has a 1-year low of $5.15 and a 1-year high of $7.49. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 122.20 and a beta of 0.89.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The company had revenue of $248.00 million during 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%. As a group, equities research analysts predict that ReNew Energy Global Plc will post 0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reduced their price objective on shares of ReNew Energy Global from $8.00 to $7.50 and set a "buy" rating on the stock in a research note on Friday.

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.