ReNew Energy Global Plc (NASDAQ:RNW) Short Interest Update

ReNew Energy Global Plc (NASDAQ:RNW) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 2,150,000 shares, a growth of 21.5% from the February 13th total of 1,770,000 shares. Based on an average daily volume of 1,340,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.4% of the company’s shares are short sold.

ReNew Energy Global Trading Up 0.6 %

ReNew Energy Global stock traded up $0.04 during mid-day trading on Wednesday, reaching $6.17. 61,800 shares of the company traded hands, compared to its average volume of 1,027,688. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.60 and a quick ratio of 0.64. ReNew Energy Global has a 52-week low of $5.15 and a 52-week high of $7.49. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 123.30 and a beta of 0.89. The firm’s 50 day moving average price is $6.48 and its 200 day moving average price is $6.28.

ReNew Energy Global (NASDAQ:RNW) last announced its quarterly 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). ReNew Energy Global had a net margin of 2.17% and a return on equity of 1.75%. The company had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $20.22 billion. On average, analysts anticipate that ReNew Energy Global will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of ReNew Energy Global

Several institutional investors have recently bought and sold shares of RNW. Rubric Capital Management LP grew its holdings in shares of ReNew Energy Global by 1.5% in the third quarter. Rubric Capital Management LP now owns 13,706,102 shares of the company’s stock worth $86,211,000 after acquiring an additional 200,000 shares during the period. Franklin Resources Inc. grew its stake in shares of ReNew Energy Global by 191.4% during the 4th quarter. Franklin Resources Inc. now owns 5,693,312 shares of the company’s stock valued at $38,885,000 after purchasing an additional 3,739,645 shares during the period. Millennium Management LLC increased its position in shares of ReNew Energy Global by 8.9% during the 4th quarter. Millennium Management LLC now owns 5,169,576 shares of the company’s stock valued at $35,308,000 after purchasing an additional 420,831 shares during the last quarter. Walleye Capital LLC bought a new position in shares of ReNew Energy Global in the 4th quarter worth approximately $19,302,000. Finally, Northwest & Ethical Investments L.P. boosted its holdings in shares of ReNew Energy Global by 6.3% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,296,800 shares of the company’s stock worth $15,687,000 after buying an additional 135,606 shares during the last quarter. 43.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Roth Mkm dropped their price objective on ReNew Energy Global from $8.00 to $7.50 and set a “buy” rating for the company in a report on Friday, February 21st.

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.