M&G PLC Sells 485,168 Shares of ReNew Energy Global PLC $RNW

M&G PLC cut its holdings in shares of ReNew Energy Global PLC (NASDAQ:RNW) by 22.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,703,330 shares of the company’s stock after selling 485,168 shares during the quarter. M&G PLC owned about 0.47% of ReNew Energy Global worth $13,627,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RNW. Bank of America Corp DE boosted its position in ReNew Energy Global by 722.2% during the fourth quarter. Bank of America Corp DE now owns 15,621 shares of the company’s stock worth $107,000 after purchasing an additional 13,721 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of ReNew Energy Global by 103.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 50,933 shares of the company’s stock worth $352,000 after buying an additional 25,913 shares during the last quarter. Carrera Capital Advisors lifted its stake in shares of ReNew Energy Global by 164.5% during the 2nd quarter. Carrera Capital Advisors now owns 330,881 shares of the company’s stock worth $2,286,000 after buying an additional 205,782 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of ReNew Energy Global by 487.4% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 104,056 shares of the company’s stock worth $719,000 after buying an additional 86,342 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of ReNew Energy Global by 18.3% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,173 shares of the company’s stock worth $326,000 after buying an additional 7,283 shares during the period. Institutional investors and hedge funds own 43.56% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings downgraded shares of ReNew Energy Global from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 11th. Mizuho decreased their target price on ReNew Energy Global from $8.15 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 16th. Finally, Morgan Stanley set a $6.03 price target on ReNew Energy Global in a report on Monday, February 2nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ReNew Energy Global has a consensus rating of “Hold” and a consensus price target of $6.84.

ReNew Energy Global Price Performance

Shares of RNW opened at $5.35 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 4.34. ReNew Energy Global PLC has a 12 month low of $5.05 and a 12 month high of $8.24. The firm’s 50 day moving average is $5.62 and its 200-day moving average is $6.93. The stock has a market capitalization of $1.94 billion, a PE ratio of 17.26 and a beta of 0.91.

About ReNew Energy Global

ReNew Energy Global PLC is an independent power producer specializing in the development, construction, ownership and operation of utility-scale renewable energy projects. Headquartered in Gurugram, India, the company focuses on onshore wind farms, solar photovoltaic plants and hybrid energy systems, often paired with battery energy storage to enhance grid stability and dispatch flexibility. ReNew Energy Global markets electricity under long-term power purchase agreements, serving utilities, distribution companies and corporate offtakers.

The company’s core business activities encompass site identification, project design, procurement, construction management and ongoing asset management.