Van ECK Associates Corp lessened its holdings in ReNew Energy Global Plc (NASDAQ:RNW – Free Report) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,206,581 shares of the company’s stock after selling 9,975 shares during the period. Van ECK Associates Corp’s holdings in ReNew Energy Global were worth $9,242,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of RNW. Pale Fire Capital SE acquired a new position in shares of ReNew Energy Global during the 3rd quarter valued at about $54,000. Vanguard Personalized Indexing Management LLC purchased a new stake in ReNew Energy Global in the third quarter valued at approximately $90,000. Syon Capital LLC purchased a new position in ReNew Energy Global during the third quarter worth approximately $93,000. Cerity Partners LLC acquired a new position in shares of ReNew Energy Global in the 4th quarter valued at $180,000. Finally, Jennison Associates LLC purchased a new stake in shares of ReNew Energy Global during the 3rd quarter valued at $216,000. 43.56% of the stock is currently owned by institutional investors and hedge funds.
ReNew Energy Global Stock Performance
Shares of NASDAQ:RNW opened at $5.68 on Friday. The company has a market cap of $2.12 billion, a P/E ratio of 56.80 and a beta of 0.91. ReNew Energy Global Plc has a one year low of $4.78 and a one year high of $7.79. The business’s 50-day simple moving average is $6.02 and its 200 day simple moving average is $6.36. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.84 and a current ratio of 0.85.
Analysts Set New Price Targets
Separately, Roth Mkm dropped their price target on ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, ReNew Energy Global currently has a consensus rating of “Buy” and an average price target of $8.35.
View Our Latest Stock Analysis on RNW
ReNew Energy Global 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.
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