Summit Securities Group LLC Invests $34,000 in ReNew Energy Global Plc (NASDAQ:RNW)

Summit Securities Group LLC purchased a new stake in shares of ReNew Energy Global Plc (NASDAQ:RNW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,965 shares of the company’s stock, valued at approximately $34,000.

A number of other hedge funds also recently added to or reduced their stakes in RNW. Northwest & Ethical Investments L.P. boosted its stake in ReNew Energy Global by 6.3% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,296,800 shares of the company’s stock valued at $15,687,000 after purchasing an additional 135,606 shares during the last quarter. Helikon Investments Ltd bought a new position in shares of ReNew Energy Global during the fourth quarter valued at $15,055,000. Franklin Resources Inc. purchased a new stake in shares of ReNew Energy Global during the third quarter valued at $11,585,000. The Manufacturers Life Insurance Company increased its holdings in ReNew Energy Global by 33.6% in 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 worth $4,402,000 after buying an additional 202,100 shares during the last quarter. 43.56% of the stock is currently owned by hedge funds and other institutional investors.

ReNew Energy Global Trading Down 1.3 %

NASDAQ:RNW opened at $6.01 on Monday. The company has a market cap of $2.18 billion, a PE ratio of 120.20 and a beta of 0.89. The company has a current ratio of 0.60, a quick ratio of 0.64 and a debt-to-equity ratio of 4.74. The company has a 50 day simple moving average of $6.39 and a two-hundred day simple moving average of $6.29. ReNew Energy Global Plc has a 12 month low of $5.15 and a 12 month high of $7.49.

ReNew Energy Global (NASDAQ:RNW) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $248.00 million during the quarter, compared to the consensus estimate of $20.22 billion. Research analysts forecast that ReNew Energy Global Plc will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

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

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.