Northwest & Ethical Investments L.P. Acquires 68,308 Shares of ReNew Energy Global Plc (NASDAQ:RNW)

Northwest & Ethical Investments L.P. increased its holdings in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,161,194 shares of the company’s stock after acquiring an additional 68,308 shares during the period. Northwest & Ethical Investments L.P. owned approximately 0.60% of ReNew Energy Global worth $13,594,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp boosted its stake in ReNew Energy Global by 58.1% in the 3rd quarter. Van ECK Associates Corp now owns 12,278 shares of the company’s stock worth $72,000 after purchasing an additional 4,513 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in ReNew Energy Global by 23.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 12,672 shares of the company’s stock worth $80,000 after buying an additional 2,379 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of ReNew Energy Global by 12.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 15,187 shares of the company’s stock valued at $95,000 after buying an additional 1,709 shares during the last quarter. Quantbot Technologies LP increased its position in shares of ReNew Energy Global by 454.7% during the third quarter. Quantbot Technologies LP now owns 15,788 shares of the company’s stock valued at $99,000 after acquiring an additional 12,942 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of ReNew Energy Global by 50.9% during the second quarter. Renaissance Technologies LLC now owns 34,100 shares of the company’s stock valued at $213,000 after acquiring an additional 11,500 shares in the last quarter. Hedge funds and other institutional investors own 43.56% of the company’s stock.

ReNew Energy Global Stock Performance

RNW traded up $0.04 during mid-day trading on Thursday, reaching $6.09. 760,924 shares of the company traded hands, compared to its average volume of 871,036. The stock has a market capitalization of $2.21 billion, a P/E ratio of 101.52 and a beta of 0.95. ReNew Energy Global Plc has a 52-week low of $5.15 and a 52-week high of $7.79. 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 company’s fifty day moving average price is $5.88 and its 200-day moving average price is $5.95.

Analyst Upgrades and Downgrades

Several brokerages have commented on RNW. Roth Mkm cut their target price on ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Morgan Stanley downgraded ReNew Energy Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 26th.

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.