Northwest & Ethical Investments L.P. Increases Stake in ReNew Energy Global Plc (NASDAQ:RNW)

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

A number of other hedge funds have also recently modified their holdings of the business. Mercer Global Advisors Inc. ADV raised its holdings in ReNew Energy Global by 12.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 15,187 shares of the company’s stock worth $95,000 after purchasing an additional 1,709 shares during the period. Robeco Institutional Asset Management B.V. increased its position 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 in the last quarter. Tidal Investments LLC raised its stake in shares of ReNew Energy Global by 3.5% in the first quarter. Tidal Investments LLC now owns 87,575 shares of the company’s stock worth $525,000 after buying an additional 2,924 shares during the period. Van ECK Associates Corp lifted its position in shares of ReNew Energy Global by 58.1% during the 3rd quarter. Van ECK Associates Corp now owns 12,278 shares of the company’s stock valued at $72,000 after buying an additional 4,513 shares in the last quarter. Finally, Harvest Portfolios Group Inc. grew its stake in shares of ReNew Energy Global by 17.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 71,966 shares of the company’s stock valued at $453,000 after acquiring an additional 10,831 shares during the period. Institutional investors own 43.56% of the company’s stock.

ReNew Energy Global Price Performance

NASDAQ RNW traded up $0.04 during trading hours on Thursday, reaching $6.09. The company’s stock had a trading volume of 760,924 shares, compared to its average volume of 871,036. ReNew Energy Global Plc has a 1 year low of $5.15 and a 1 year 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 has a market capitalization of $2.21 billion, a price-to-earnings ratio of 101.52 and a beta of 0.95. The firm’s 50-day moving average price is $5.88 and its 200-day moving average price is $5.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Roth Mkm decreased their target price on shares of 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 shares of ReNew Energy Global from an “overweight” rating to an “equal weight” rating in a research report on Thursday, September 26th.

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.