MASO CAPITAL PARTNERS Ltd Takes Position in ReNew Energy Global PLC $RNW

MASO CAPITAL PARTNERS Ltd acquired a new position 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 institutional investor acquired 282,758 shares of the company’s stock, valued at approximately $2,177,000. ReNew Energy Global comprises approximately 3.5% of MASO CAPITAL PARTNERS Ltd’s holdings, making the stock its 7th largest position. MASO CAPITAL PARTNERS Ltd owned 0.08% of ReNew Energy Global at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Harvest Portfolios Group Inc. grew its position in ReNew Energy Global by 3.9% in the third quarter. Harvest Portfolios Group Inc. now owns 41,751 shares of the company’s stock worth $321,000 after acquiring an additional 1,568 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of ReNew Energy Global by 15.4% during the 2nd quarter. Tidal Investments LLC now owns 13,153 shares of the company’s stock valued at $91,000 after purchasing an additional 1,752 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of ReNew Energy Global by 6.9% during the 2nd quarter. Corient Private Wealth LLC now owns 28,643 shares of the company’s stock valued at $198,000 after purchasing an additional 1,849 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of ReNew Energy Global by 9.3% in the 2nd quarter. Cerity Partners LLC now owns 26,085 shares of the company’s stock valued at $180,000 after purchasing an additional 2,225 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of ReNew Energy Global in the 2nd quarter valued at $29,000. Institutional investors own 43.56% of the company’s stock.

ReNew Energy Global Price Performance

NASDAQ RNW opened at $5.31 on Tuesday. ReNew Energy Global PLC has a 1 year low of $5.05 and a 1 year high of $8.24. The company has a fifty day simple moving average of $5.40 and a 200 day simple moving average of $6.62. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 3.84. The company has a market cap of $1.93 billion, a P/E ratio of 12.64 and a beta of 0.90.

ReNew Energy Global (NASDAQ:RNW) last announced its earnings results on Monday, February 16th. The company reported $0.00 EPS for the quarter, topping the consensus estimate of ($0.12) by $0.12. The firm had revenue of $349.01 million for the quarter, compared to the consensus estimate of $262.33 million. ReNew Energy Global had a net margin of 6.95% and a return on equity of 10.50%. On average, sell-side analysts predict that ReNew Energy Global PLC will post 0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RNW shares. Mizuho lowered their target price on shares of 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. Morgan Stanley set a $6.03 price target on ReNew Energy Global in a research report on Monday, February 2nd. Finally, Weiss Ratings lowered ReNew Energy Global from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $6.52.

ReNew Energy Global Profile

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.