Traders Purchase Large Volume of ReNew Energy Global Put Options (NASDAQ:RNW)

ReNew Energy Global Plc (NASDAQ:RNW - Get Free Report) was the target of some unusual options trading on Wednesday. Stock traders purchased 14,473 put options on the company. This is an increase of approximately 3,465% compared to the typical daily volume of 406 put options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its stake in shares of ReNew Energy Global by 33.6% during the third quarter. The Manufacturers Life Insurance Company now owns 1,118,181 shares of the company's stock valued at $7,033,000 after purchasing an additional 281,000 shares in the last quarter. Quantbot Technologies LP grew its holdings in ReNew Energy Global by 454.7% during the 3rd 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in ReNew Energy Global by 40.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 699,905 shares of the company's stock valued at $4,402,000 after acquiring an additional 202,100 shares during the period. Verition Fund Management LLC acquired a new position in shares of ReNew Energy Global during the third quarter worth $426,000. Finally, Barclays PLC grew its stake in shares of ReNew Energy Global by 382.5% in the third quarter. Barclays PLC now owns 26,381 shares of the company's stock worth $166,000 after purchasing an additional 20,913 shares during the last quarter. Institutional investors own 43.56% of the company's stock.

Analyst Ratings Changes

Separately, Roth Mkm lowered 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, February 21st.

ReNew Energy Global Stock Performance

Shares of RNW stock traded down $0.14 during trading on Monday, reaching $5.64. 1,245,955 shares of the company's stock were exchanged, compared to its average volume of 1,053,539. The firm's fifty day moving average price is $6.31 and its 200-day moving average price is $6.28. ReNew Energy Global has a twelve month low of $5.15 and a twelve month high of $7.49. The stock has a market capitalization of $2.05 billion, a PE ratio of 112.80 and a beta of 0.89. The company has a quick ratio of 0.64, a current ratio of 0.60 and a debt-to-equity ratio of 4.74.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The firm had revenue of $248.00 million for the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that ReNew Energy Global will post 0.15 EPS 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.