State Street Corp Reduces Position in ReNew Energy Global Plc (NASDAQ:RNW)

State Street Corp cut its stake in ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 7.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,304,268 shares of the company's stock after selling 109,472 shares during the quarter. State Street Corp owned 0.36% of ReNew Energy Global worth $8,204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RNW. Van ECK Associates Corp increased its position in shares of ReNew Energy Global by 58.1% during the 3rd 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. Robeco Institutional Asset Management B.V. grew its position in ReNew Energy Global by 23.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 12,672 shares of the company's stock valued at $80,000 after buying an additional 2,379 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in 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 valued at $95,000 after buying an additional 1,709 shares during the last quarter. Quantbot Technologies LP raised its position in ReNew Energy Global by 454.7% in the third quarter. Quantbot Technologies LP now owns 15,788 shares of the company's stock worth $99,000 after acquiring an additional 12,942 shares during the period. Finally, Renaissance Technologies LLC raised 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 worth $213,000 after acquiring an additional 11,500 shares during the period. Institutional investors own 43.56% of the company's stock.

Analysts Set New Price Targets

Separately, Morgan Stanley downgraded ReNew Energy Global from an "overweight" rating to an "equal weight" rating in a research note on Thursday, September 26th.

ReNew Energy Global Price Performance

Shares of ReNew Energy Global stock traded up $0.06 during trading hours on Friday, reaching $6.82. The company's stock had a trading volume of 617,980 shares, compared to its average volume of 925,411. 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 Plc has a one year low of $5.15 and a one year high of $7.79. The firm has a 50 day moving average price of $6.11 and a 200-day moving average price of $6.03. The stock has a market cap of $2.47 billion, a P/E ratio of 113.69 and a beta of 0.96.

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.