Invesco Ltd. Acquires 356,311 Shares of ReNew Energy Global PLC $RNW

Invesco Ltd. lifted its holdings in ReNew Energy Global PLC (NASDAQ:RNW) by 16.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,476,280 shares of the company’s stock after purchasing an additional 356,311 shares during the quarter. Invesco Ltd.’s holdings in ReNew Energy Global were worth $14,585,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RNW. Millennium Management LLC boosted its holdings in ReNew Energy Global by 8.9% in the fourth quarter. Millennium Management LLC now owns 5,169,576 shares of the company’s stock valued at $35,308,000 after acquiring an additional 420,831 shares during the last quarter. Fiera Capital Corp bought a new position in ReNew Energy Global in the first quarter valued at about $1,865,000. Cubist Systematic Strategies LLC bought a new position in ReNew Energy Global in the fourth quarter valued at about $1,662,000. Picton Mahoney Asset Management boosted its holdings in ReNew Energy Global by 33.1% in the first quarter. Picton Mahoney Asset Management now owns 944,707 shares of the company’s stock valued at $5,563,000 after acquiring an additional 234,696 shares during the last quarter. Finally, GAM Holding AG bought a new position in ReNew Energy Global in the first quarter valued at about $942,000. Institutional investors own 43.56% of the company’s stock.

ReNew Energy Global Price Performance

ReNew Energy Global stock opened at $7.79 on Friday. The business’s 50-day simple moving average is $7.38 and its 200 day simple moving average is $6.74. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 24.34 and a beta of 0.89. ReNew Energy Global PLC has a 12-month low of $5.15 and a 12-month high of $7.89. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 4.42.

ReNew Energy Global (NASDAQ:RNW) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. The business had revenue of $480.35 million for the quarter, compared to analysts’ expectations of $32.46 billion. ReNew Energy Global had a return on equity of 8.34% and a net margin of 5.77%. As a group, research analysts anticipate that ReNew Energy Global PLC will post 0.15 earnings per share for the current year.

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.