ReNew Energy Global PLC $RNW Holdings Boosted by GAM Holding AG

GAM Holding AG raised its position in shares of ReNew Energy Global PLC (NASDAQ:RNW) by 94.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 370,000 shares of the company’s stock after purchasing an additional 180,000 shares during the quarter. GAM Holding AG’s holdings in ReNew Energy Global were worth $2,849,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of ReNew Energy Global by 21.8% during the second quarter. Franklin Resources Inc. now owns 14,187,989 shares of the company’s stock valued at $98,039,000 after buying an additional 2,540,442 shares in the last quarter. Millennium Management LLC grew its stake in ReNew Energy Global by 22.9% during the 1st quarter. Millennium Management LLC now owns 6,351,699 shares of the company’s stock valued at $37,412,000 after acquiring an additional 1,182,123 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in ReNew Energy Global during the 1st quarter valued at about $34,651,000. M&G PLC increased its holdings in shares of ReNew Energy Global by 14.6% in the 2nd quarter. M&G PLC now owns 2,188,498 shares of the company’s stock valued at $15,319,000 after purchasing an additional 278,863 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of ReNew Energy Global by 94.0% in the second quarter. JPMorgan Chase & Co. now owns 642,397 shares of the company’s stock worth $4,439,000 after purchasing an additional 311,297 shares in the last quarter. Institutional investors and hedge funds own 43.56% of the company’s stock.

Wall Street Analysts Forecast Growth

RNW has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ReNew Energy Global in a research report on Monday. Mizuho cut their target price on shares of ReNew Energy Global from $8.15 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, ReNew Energy Global presently has an average rating of “Hold” and an average price target of $7.25.

ReNew Energy Global Trading Up 3.7%

Shares of NASDAQ RNW opened at $5.86 on Friday. The business has a 50 day simple moving average of $6.92 and a 200 day simple moving average of $7.34. ReNew Energy Global PLC has a 52 week low of $5.05 and a 52 week high of $8.24. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 18.90 and a beta of 0.91. The company has a debt-to-equity ratio of 4.34, a quick ratio of 0.74 and a current ratio of 0.77.

ReNew Energy Global (NASDAQ:RNW) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.04). The business had revenue of $433.94 million for the quarter, compared to the consensus estimate of $403.19 million. ReNew Energy Global had a net margin of 5.37% and a return on equity of 7.90%. On average, research analysts predict that ReNew Energy Global PLC will post 0.15 earnings per share for the current fiscal year.

ReNew Energy Global Profile

ReNew Energy Global PLC is an independent power producer specializing in the development, construction, ownership and operation of utility-scale renewable energy projects. Headquartered in Gurugram, India, the company focuses on onshore wind farms, solar photovoltaic plants and hybrid energy systems, often paired with battery energy storage to enhance grid stability and dispatch flexibility. ReNew Energy Global markets electricity under long-term power purchase agreements, serving utilities, distribution companies and corporate offtakers.

The company’s core business activities encompass site identification, project design, procurement, construction management and ongoing asset management.