Verition Fund Management LLC Invests $426,000 in ReNew Energy Global Plc (NASDAQ:RNW)

Verition Fund Management LLC bought a new stake in ReNew Energy Global Plc (NASDAQ:RNW) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 67,781 shares of the company’s stock, valued at approximately $426,000.

A number of other large investors also recently modified their holdings of the stock. Northwest & Ethical Investments L.P. lifted its holdings in shares of ReNew Energy Global by 3.3% in the third quarter. Northwest & Ethical Investments L.P. now owns 2,161,194 shares of the company’s stock valued at $13,594,000 after purchasing an additional 68,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of ReNew Energy Global by 40.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 699,905 shares of the company’s stock valued at $4,402,000 after purchasing an additional 202,100 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in ReNew Energy Global by 4.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 281,126 shares of the company’s stock worth $1,768,000 after acquiring an additional 11,639 shares during the period. Rubric Capital Management LP lifted its holdings in ReNew Energy Global by 1.5% during the third quarter. Rubric Capital Management LP now owns 13,706,102 shares of the company’s stock worth $86,211,000 after acquiring an additional 200,000 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in ReNew Energy Global by 454.7% during the third quarter. Quantbot Technologies LP now owns 15,788 shares of the company’s stock worth $99,000 after acquiring an additional 12,942 shares during the period. Institutional investors own 43.56% of the company’s stock.

ReNew Energy Global Stock Performance

NASDAQ:RNW opened at $7.21 on Friday. The company has a debt-to-equity ratio of 4.51, a current ratio of 0.65 and a quick ratio of 0.64. The business has a fifty day simple moving average of $5.89 and a two-hundred day simple moving average of $5.97. ReNew Energy Global Plc has a 1 year low of $5.15 and a 1 year high of $7.79. The company has a market capitalization of $2.61 billion, a P/E ratio of 120.17 and a beta of 0.97.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley lowered ReNew Energy Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 26th. Roth Mkm dropped their price target on ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, August 19th.

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.