ReNew Energy Global Plc (NASDAQ:RNW) Stock Position Boosted by Carrhae Capital LLP

Carrhae Capital LLP grew its position in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 69.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,654,991 shares of the company’s stock after purchasing an additional 1,495,819 shares during the quarter. ReNew Energy Global accounts for 2.6% of Carrhae Capital LLP’s portfolio, making the stock its 17th largest position. Carrhae Capital LLP owned about 0.98% of ReNew Energy Global worth $22,990,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Counterpoint Mutual Funds LLC purchased a new position in ReNew Energy Global in the 1st quarter worth about $275,000. Everett Harris & Co. CA purchased a new position in shares of ReNew Energy Global in the first quarter worth approximately $90,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of ReNew Energy Global by 38.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 177,305 shares of the company’s stock worth $980,000 after acquiring an additional 48,901 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of ReNew Energy Global by 261.6% during the first quarter. Jennison Associates LLC now owns 144,133 shares of the company’s stock valued at $865,000 after acquiring an additional 104,278 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of ReNew Energy Global in the 1st quarter valued at approximately $959,000. Institutional investors own 43.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Morgan Stanley cut shares of ReNew Energy Global from an “overweight” rating to an “equal weight” rating in a research report on Thursday, September 26th. Roth Mkm lowered their price target on ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, August 19th.

ReNew Energy Global Stock Performance

RNW stock opened at $6.07 on Monday. The firm has a 50 day simple moving average of $5.98 and a 200 day simple moving average of $5.96. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.66 and a current ratio of 0.67. ReNew Energy Global Plc has a 52 week low of $5.26 and a 52 week high of $7.79. The stock has a market cap of $2.26 billion, a P/E ratio of 50.58 and a beta of 0.94.

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.