Roth Mkm Lowers ReNew Energy Global (NASDAQ:RNW) Price Target to $7.50

ReNew Energy Global (NASDAQ:RNW) had its target price decreased by Roth Mkm from $8.00 to $7.50 in a report published on Friday morning,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

ReNew Energy Global Stock Performance

Shares of RNW stock opened at $6.11 on Friday. 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 company has a debt-to-equity ratio of 4.74, a quick ratio of 0.64 and a current ratio of 0.60. ReNew Energy Global has a one year low of $5.15 and a one year high of $7.49. The company’s 50-day moving average is $6.73 and its 200 day moving average is $6.22.

ReNew Energy Global (NASDAQ:RNW) last posted 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). ReNew Energy Global had a net margin of 2.17% and a return on equity of 1.75%. The firm had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $20.22 billion. Sell-side analysts expect that ReNew Energy Global will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in shares of ReNew Energy Global during the fourth quarter valued at approximately $25,000. BNP Paribas Financial Markets bought a new stake in shares of ReNew Energy Global during the 4th quarter valued at $25,000. Summit Securities Group LLC bought a new stake in shares of ReNew Energy Global during the 4th quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ReNew Energy Global in the 4th quarter worth $52,000. Finally, Signaturefd LLC bought a new position in ReNew Energy Global in the 4th quarter worth $65,000. 43.56% of the stock is owned by institutional investors.

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.