Millennium Management LLC Raises Stock Holdings in ReNew Energy Global Plc (NASDAQ:RNW)

Millennium Management LLC raised its position in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 60.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,779,016 shares of the company’s stock after buying an additional 1,802,191 shares during the quarter. Millennium Management LLC owned about 1.28% of ReNew Energy Global worth $29,821,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Rubric Capital Management LP lifted its holdings in shares of ReNew Energy Global by 5.3% during the fourth quarter. Rubric Capital Management LP now owns 10,420,000 shares of the company’s stock valued at $79,817,000 after purchasing an additional 522,574 shares during the last quarter. Pale Fire Capital SE boosted its holdings in ReNew Energy Global by 702.0% in the fourth quarter. Pale Fire Capital SE now owns 80,200 shares of the company’s stock worth $614,000 after acquiring an additional 70,200 shares in the last quarter. Syon Capital LLC grew 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 worth $248,000 after acquiring an additional 15,295 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of ReNew Energy Global during the first quarter valued at $275,000. Finally, Everett Harris & Co. CA purchased a new position in shares of ReNew Energy Global in the 1st quarter worth about $90,000. Institutional investors own 43.56% of the company’s stock.

ReNew Energy Global Stock Down 1.0 %

RNW stock opened at $5.89 on Thursday. The company has a debt-to-equity ratio of 4.65, a current ratio of 0.67 and a quick ratio of 0.66. ReNew Energy Global Plc has a 1-year low of $4.78 and a 1-year high of $7.79. The stock has a market capitalization of $2.14 billion, a P/E ratio of 49.08 and a beta of 0.92. The business has a fifty day moving average price of $5.94 and a 200-day moving average price of $5.97.

Wall Street Analysts Forecast Growth

RNW has been the topic of several recent analyst reports. 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. Roth Mkm cut their price target on shares of ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating on the stock in a 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.