Van ECK Associates Corp Has $6.07 Million Stake in ReNew Energy Global Plc (NASDAQ:RNW)

Van ECK Associates Corp decreased its holdings in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 16.1% in the 1st quarter, Holdings Channel reports. The fund owned 1,011,765 shares of the company’s stock after selling 194,816 shares during the period. Van ECK Associates Corp’s holdings in ReNew Energy Global were worth $6,071,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of ReNew Energy Global in the fourth quarter valued at approximately $113,000. Everett Harris & Co. CA acquired a new position in shares of ReNew Energy Global in the first quarter valued at approximately $90,000. Victory Capital Management Inc. acquired a new position in shares of ReNew Energy Global in the fourth quarter valued at approximately $136,000. Cerity Partners LLC acquired a new position in shares of ReNew Energy Global in the fourth quarter valued at approximately $180,000. Finally, Syon Capital LLC increased its stake in shares of ReNew Energy Global by 89.4% in the fourth quarter. Syon Capital LLC now owns 32,395 shares of the company’s stock valued at $248,000 after buying an additional 15,295 shares during the period. Institutional investors and hedge funds own 43.56% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $9.00 price objective (up previously from $8.00) on shares of ReNew Energy Global in a research note on Friday, June 7th.

ReNew Energy Global Trading Down 1.2 %

NASDAQ:RNW traded down $0.07 on Friday, reaching $5.99. 359,785 shares of the stock traded hands, compared to its average volume of 878,366. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 50.25 and a beta of 0.93. The company’s 50 day moving average is $6.12 and its 200-day moving average is $6.38. The company has a current ratio of 0.73, a quick ratio of 0.72 and a debt-to-equity ratio of 4.65. ReNew Energy Global Plc has a 1-year low of $4.78 and a 1-year high of $7.79.

ReNew Energy Global (NASDAQ:RNW) last released its earnings results on Wednesday, June 5th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The business had revenue of $297.00 million during the quarter, compared to the consensus estimate of $243.45 million. ReNew Energy Global had a net margin of 4.17% and a return on equity of 3.36%. Equities research analysts anticipate that ReNew Energy Global Plc will post 0.13 EPS for the current fiscal year.

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.