Picton Mahoney Asset Management Lowers Position in ReNew Energy Global Plc (NASDAQ:RNW)

Picton Mahoney Asset Management lessened its stake in ReNew Energy Global Plc (NASDAQ:RNW) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 710,011 shares of the company’s stock after selling 9,538 shares during the period. Picton Mahoney Asset Management’s holdings in ReNew Energy Global were worth $4,849,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Everett Harris & Co. CA lifted its holdings in shares of ReNew Energy Global by 14.3% in the fourth quarter. Everett Harris & Co. CA now owns 40,000 shares of the company’s stock valued at $273,000 after purchasing an additional 5,000 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of ReNew Energy Global in the fourth quarter valued at approximately $75,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of ReNew Energy Global by 4.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 281,126 shares of the company’s stock valued at $1,768,000 after purchasing an additional 11,639 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of ReNew Energy Global by 454.7% in the third quarter. Quantbot Technologies LP now owns 15,788 shares of the company’s stock valued at $99,000 after purchasing an additional 12,942 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of ReNew Energy Global in the fourth quarter valued at approximately $107,000. Institutional investors own 43.56% of the company’s stock.

ReNew Energy Global Stock Performance

Shares of RNW opened at $6.11 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.64 and a debt-to-equity ratio of 4.74. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 122.20 and a beta of 0.89. The stock has a 50 day moving average of $6.51 and a 200 day moving average of $6.26. ReNew Energy Global Plc has a 12 month low of $5.15 and a 12 month high of $7.49.

ReNew Energy Global (NASDAQ:RNW) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The business had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $20.22 billion. ReNew Energy Global had a net margin of 2.17% and a return on equity of 1.75%. As a group, sell-side analysts forecast that ReNew Energy Global Plc will post 0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Roth Mkm dropped their target price on ReNew Energy Global from $8.00 to $7.50 and set a “buy” rating on the stock in a report on Friday, February 21st.

ReNew Energy Global Company Profile

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.