Geode Capital Management LLC Has $2.18 Million Stake in ReNew Energy Global Plc (NASDAQ:RNW)

Geode Capital Management LLC lowered its stake in ReNew Energy Global Plc (NASDAQ:RNW) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 319,327 shares of the company’s stock after selling 6,268 shares during the period. Geode Capital Management LLC’s holdings in ReNew Energy Global were worth $2,181,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Franklin Resources Inc. boosted its position in ReNew Energy Global by 191.4% in the 4th quarter. Franklin Resources Inc. now owns 5,693,312 shares of the company’s stock valued at $38,885,000 after buying an additional 3,739,645 shares during the last quarter. Helikon Investments Ltd acquired a new position in shares of ReNew Energy Global during the fourth quarter valued at $15,055,000. State of New Jersey Common Pension Fund D bought a new position in ReNew Energy Global in the fourth quarter valued at about $4,436,000. Norges Bank acquired a new stake in ReNew Energy Global in the fourth quarter worth about $4,107,000. Finally, Silphium Asset Management Ltd bought a new stake in ReNew Energy Global during the 4th quarter worth about $2,049,000. Institutional investors and hedge funds own 43.56% of the company’s stock.

Analyst Ratings Changes

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

ReNew Energy Global Stock Performance

Shares of ReNew Energy Global stock opened at $6.51 on Wednesday. The firm has a fifty day moving average of $6.13 and a two-hundred day moving average of $6.27. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.64 and a current ratio of 0.60. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 130.20 and a beta of 0.89. ReNew Energy Global Plc has a 52 week low of $5.15 and a 52 week high of $7.49.

ReNew Energy Global (NASDAQ:RNW) last released its quarterly earnings data on Tuesday, February 18th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). ReNew Energy Global had a net margin of 2.17% and a return on equity of 1.75%. The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $20.22 billion. As a group, equities research analysts predict that ReNew Energy Global Plc will post 0.15 EPS for the current year.

ReNew Energy Global 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.