ReNew Energy Global (NASDAQ:RNW) Issues Earnings Results

ReNew Energy Global (NASDAQ:RNW) released its earnings results on Tuesday. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07), Zacks reports. ReNew Energy Global had a net margin of 2.70% and a return on equity of 2.16%.

ReNew Energy Global Price Performance

Shares of NASDAQ RNW traded up $0.23 during midday trading on Tuesday, hitting $6.76. The company had a trading volume of 1,809,116 shares, compared to its average volume of 1,182,474. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 4.51. The business has a 50-day simple moving average of $6.78 and a two-hundred day simple moving average of $6.20. ReNew Energy Global has a twelve month low of $5.15 and a twelve month high of $7.49. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 112.69 and a beta of 0.89.

Hedge Funds Weigh In On ReNew Energy Global

An institutional investor recently raised its position in ReNew Energy Global stock. Bank of America Corp DE lifted its holdings in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 722.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,621 shares of the company’s stock after purchasing an additional 13,721 shares during the period. Bank of America Corp DE’s holdings in ReNew Energy Global were worth $107,000 as of its most recent SEC filing. Institutional investors and hedge funds own 43.56% of the company’s stock.

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.