ReNew Energy Global Sees Unusually Large Options Volume (NASDAQ:RNW)

ReNew Energy Global Plc (NASDAQ:RNW - Get Free Report) was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 14,473 put options on the stock. This is an increase of 3,465% compared to the average volume of 406 put options.

ReNew Energy Global Stock Down 2.4 %

Shares of RNW stock traded down $0.14 during trading hours on Monday, hitting $5.64. 1,245,955 shares of the company were exchanged, compared to its average volume of 1,053,539. The company has a market capitalization of $2.05 billion, a PE ratio of 112.80 and a beta of 0.89. The business has a 50 day moving average of $6.31 and a two-hundred day moving average of $6.28. ReNew Energy Global has a 52 week low of $5.15 and a 52 week high of $7.49. The company has a current ratio of 0.60, a quick ratio of 0.64 and a debt-to-equity ratio of 4.74.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On ReNew Energy Global

Several hedge funds and other institutional investors have recently made changes to their positions in RNW. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 purchasing an additional 202,100 shares in the last quarter. Franklin Resources Inc. acquired a new stake in ReNew Energy Global during the 3rd quarter worth about $11,585,000. The Manufacturers Life Insurance Company boosted its holdings in shares of ReNew Energy Global by 33.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,118,181 shares of the company's stock worth $7,033,000 after buying an additional 281,000 shares in the last quarter. Silphium Asset Management Ltd acquired a new stake in ReNew Energy Global in the fourth quarter worth $2,049,000. Finally, Helikon Investments Ltd bought a new stake in ReNew Energy Global in the 4th quarter valued at about $15,055,000. 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.