ReNew Energy Global (NASDAQ:RNW) Trading Down 6.9%

ReNew Energy Global Plc (NASDAQ:RNW – Get Rating) was down 6.9% on Friday . The company traded as low as $4.58 and last traded at $4.58. Approximately 320,448 shares were traded during trading, a decline of 69% from the average daily volume of 1,024,398 shares. The stock had previously closed at $4.92.

Analysts Set New Price Targets

Separately, Credit Suisse Group cut shares of ReNew Energy Global from an “outperform” rating to a “neutral” rating in a research note on Wednesday, February 1st.

ReNew Energy Global Trading Down 2.2 %

The business’s 50 day simple moving average is $5.42 and its two-hundred day simple moving average is $5.82. The stock has a market cap of $1.93 billion, a P/E ratio of -16.03 and a beta of 0.60. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 3.62.

Institutional Trading of ReNew Energy Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. acquired a new stake in ReNew Energy Global in the first quarter valued at $93,000. JPMorgan Chase & Co. increased its holdings in ReNew Energy Global by 2,782.7% in the first quarter. JPMorgan Chase & Co. now owns 133,788 shares of the company’s stock valued at $1,100,000 after purchasing an additional 129,147 shares during the period. Sei Investments Co. acquired a new stake in ReNew Energy Global in the first quarter valued at $115,000. First Trust Advisors LP increased its holdings in ReNew Energy Global by 665.4% in the first quarter. First Trust Advisors LP now owns 2,738,862 shares of the company’s stock valued at $22,513,000 after purchasing an additional 2,381,013 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in ReNew Energy Global by 276.5% in the first quarter. Renaissance Technologies LLC now owns 80,200 shares of the company’s stock valued at $659,000 after purchasing an additional 58,900 shares during the period. Institutional investors own 45.89% of the company’s stock.

About ReNew Energy Global

(Get Rating)

ReNew Energy Global Plc generates power through non-conventional and renewable energy sources in India. The company operates through Wind Power and Solar Power segments. It develops, builds, owns, and operates utility scale wind and solar energy projects, as well as distributed solar energy projects that generate energy for commercial and industrial customers.