Picton Mahoney Asset Management Has $7.83 Million Holdings in ReNew Energy Global Plc (NASDAQ:RNW)

Picton Mahoney Asset Management grew its position in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 23.6% in the 4th quarter, HoldingsChannel reports. The fund owned 1,022,240 shares of the company’s stock after buying an additional 195,195 shares during the period. Picton Mahoney Asset Management’s holdings in ReNew Energy Global were worth $7,831,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Rubric Capital Management LP raised its stake in shares of ReNew Energy Global by 21.2% in the third quarter. Rubric Capital Management LP now owns 9,897,426 shares of the company’s stock worth $53,743,000 after purchasing an additional 1,731,521 shares during the last quarter. Sylebra Capital LLC purchased a new stake in ReNew Energy Global in the 3rd quarter valued at $13,962,000. Charles Schwab Investment Management Inc. lifted its stake in ReNew Energy Global by 35.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 658,067 shares of the company’s stock valued at $5,041,000 after acquiring an additional 170,547 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in ReNew Energy Global by 945.4% during the 3rd quarter. GSA Capital Partners LLP now owns 130,669 shares of the company’s stock worth $710,000 after acquiring an additional 118,169 shares during the last quarter. Finally, Tejara Capital Ltd grew its stake in shares of ReNew Energy Global by 12.8% in the 3rd quarter. Tejara Capital Ltd now owns 119,428 shares of the company’s stock worth $648,000 after acquiring an additional 13,528 shares in the last quarter. 43.56% of the stock is currently owned by institutional investors.

ReNew Energy Global Stock Performance

NASDAQ:RNW traded down $0.05 during trading on Wednesday, reaching $6.02. The company’s stock had a trading volume of 302,044 shares, compared to its average volume of 613,532. ReNew Energy Global Plc has a 12 month low of $4.78 and a 12 month high of $7.79. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 60.20 and a beta of 0.91. The firm has a 50 day moving average of $6.00 and a 200-day moving average of $6.38. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.84 and a current ratio of 0.85.

ReNew Energy Global (NASDAQ:RNW) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). ReNew Energy Global had a net margin of 3.61% and a return on equity of 2.96%. The company had revenue of $232.00 million for the quarter, compared to the consensus estimate of $195.90 million. During the same quarter in the previous year, the company posted ($0.15) EPS. Research analysts expect that ReNew Energy Global Plc will post 0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm dropped their price target on shares of ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, ReNew Energy Global has an average rating of “Buy” and a consensus target price of $8.35.

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.