Rubric Capital Management LP Increases Stock Position in ReNew Energy Global Plc (NASDAQ:RNW)

Rubric Capital Management LP increased its position in ReNew Energy Global Plc (NASDAQ:RNW) by 15.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,506,102 shares of the company’s stock after buying an additional 1,794,402 shares during the quarter. ReNew Energy Global accounts for approximately 2.2% of Rubric Capital Management LP’s holdings, making the stock its 13th biggest holding. Rubric Capital Management LP owned about 3.62% of ReNew Energy Global worth $84,278,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new stake in ReNew Energy Global in the fourth quarter valued at $113,000. Everett Harris & Co. CA bought a new stake in ReNew Energy Global in the first quarter valued at $90,000. Mercer Global Advisors Inc. ADV boosted its holdings in 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 acquiring an additional 1,709 shares in the last quarter. Victory Capital Management Inc. bought a new stake in ReNew Energy Global in the fourth quarter valued at $136,000. Finally, MQS Management LLC bought a new stake in ReNew Energy Global in the first quarter valued at $171,000. 43.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Roth Mkm dropped 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.

ReNew Energy Global Price Performance

Shares of NASDAQ:RNW opened at $6.56 on Friday. ReNew Energy Global Plc has a fifty-two week low of $4.78 and a fifty-two week high of $7.79. The business has a 50-day simple moving average of $5.84 and a two-hundred day simple moving average of $5.99. 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 firm has a market cap of $2.45 billion, a price-to-earnings ratio of 54.67 and a beta of 0.92.

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.