Rubric Capital Management LP Increases Stock Position in ReNew Energy Global Plc (NASDAQ:RNW)

Rubric Capital Management LP lifted its holdings in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,706,102 shares of the company’s stock after purchasing an additional 200,000 shares during the period. ReNew Energy Global comprises approximately 1.4% of Rubric Capital Management LP’s holdings, making the stock its 15th biggest holding. Rubric Capital Management LP owned 3.78% of ReNew Energy Global worth $86,211,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Swedbank AB acquired a new stake in shares of ReNew Energy Global during the first quarter worth $4,814,000. M&G PLC purchased a new stake in ReNew Energy Global in the 3rd quarter valued at about $8,097,000. Kayne Anderson Capital Advisors LP increased its stake in shares of ReNew Energy Global by 21.3% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 888,831 shares of the company’s stock valued at $5,591,000 after acquiring an additional 156,147 shares during the last quarter. Carrhae Capital LLP increased its position in ReNew Energy Global by 69.3% during the third quarter. Carrhae Capital LLP now owns 3,654,991 shares of the company’s stock worth $22,990,000 after purchasing an additional 1,495,819 shares during the last quarter. Finally, Fiera Capital Corp acquired a new position in shares of ReNew Energy Global in the 3rd quarter valued at $2,233,000. 43.56% of the stock is currently owned by institutional investors and hedge funds.

ReNew Energy Global Price Performance

Shares of NASDAQ RNW opened at $6.05 on Wednesday. The business has a 50 day moving average price of $5.89 and a two-hundred day moving average price of $5.94. ReNew Energy Global Plc has a fifty-two week low of $5.15 and a fifty-two week high of $7.79. The firm has a market cap of $2.19 billion, a PE ratio of 100.85 and a beta of 0.95. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 4.51.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley downgraded ReNew Energy Global from an “overweight” rating to an “equal weight” rating in a research report on Thursday, September 26th. Roth Mkm cut their price objective on ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, August 19th.

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.