ReNew Energy Global Plc (NASDAQ:RNW – Get Free Report)’s stock price dropped 3.3% on Thursday . The stock traded as low as $6.36 and last traded at $6.37. Approximately 367,777 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 867,698 shares. The stock had previously closed at $6.59.
Analyst Ratings Changes
RNW has been the topic of several recent analyst reports. Roth Mkm decreased their target price on shares of ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, August 19th. Morgan Stanley lowered shares of ReNew Energy Global from an “overweight” rating to an “equal weight” rating in a report on Thursday.
Check Out Our Latest Analysis on RNW
ReNew Energy Global Stock Performance
Hedge Funds Weigh In On ReNew Energy Global
Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $5,041,000 after buying an additional 170,547 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in ReNew Energy Global during the 4th quarter worth approximately $113,000. Rubric Capital Management LP lifted its holdings in ReNew Energy Global by 5.3% during the 4th quarter. Rubric Capital Management LP now owns 10,420,000 shares of the company’s stock worth $79,817,000 after buying an additional 522,574 shares in the last quarter. Pale Fire Capital SE lifted its holdings in ReNew Energy Global by 702.0% during the 4th quarter. Pale Fire Capital SE now owns 80,200 shares of the company’s stock worth $614,000 after buying an additional 70,200 shares in the last quarter. Finally, Syon Capital LLC lifted its holdings in ReNew Energy Global by 89.4% during the 4th quarter. Syon Capital LLC now owns 32,395 shares of the company’s stock worth $248,000 after buying an additional 15,295 shares in the last quarter. 43.56% of the stock is currently owned by institutional investors and hedge funds.
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.
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