abrdn plc Reduces Position in ReNew Energy Global Plc (NASDAQ:RNW)

abrdn plc lessened its position in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 50.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 631,541 shares of the company’s stock after selling 645,276 shares during the quarter. abrdn plc owned about 0.17% of ReNew Energy Global worth $3,963,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV raised its holdings in shares of ReNew Energy Global by 12.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 15,187 shares of the company’s stock valued at $95,000 after buying an additional 1,709 shares during the last quarter. MQS Management LLC purchased a new stake in ReNew Energy Global during the 1st quarter valued at approximately $171,000. Renaissance Technologies LLC lifted its position in ReNew Energy Global by 50.9% during the 2nd quarter. Renaissance Technologies LLC now owns 34,100 shares of the company’s stock worth $213,000 after acquiring an additional 11,500 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of ReNew Energy Global by 48.0% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 49,224 shares of the company’s stock valued at $307,000 after purchasing an additional 15,972 shares during the period. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of ReNew Energy Global by 784,825.0% in the second quarter. Cubist Systematic Strategies LLC now owns 62,794 shares of the company’s stock valued at $392,000 after purchasing an additional 62,786 shares during the period. Institutional investors and hedge funds own 43.56% of the company’s stock.

ReNew Energy Global Trading Down 4.1 %

NASDAQ:RNW opened at $5.43 on Monday. ReNew Energy Global Plc has a 1 year low of $5.26 and a 1 year high of $7.79. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.66 and a current ratio of 0.67. The stock has a fifty day moving average price of $6.02 and a two-hundred day moving average price of $5.98. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 181.00 and a beta of 0.95.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RNW shares. Roth Mkm lowered their price objective 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 Monday, August 19th. Morgan Stanley cut shares of ReNew Energy Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 26th.

ReNew Energy Global 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.