Franklin Resources Inc. Increases Position in ReNew Energy Global Plc (NASDAQ:RNW)

Franklin Resources Inc. increased its stake in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 191.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,693,312 shares of the company’s stock after buying an additional 3,739,645 shares during the period. Franklin Resources Inc. owned about 1.57% of ReNew Energy Global worth $38,885,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in RNW. Summit Securities Group LLC acquired a new stake in ReNew Energy Global in the fourth quarter valued at $34,000. Signaturefd LLC acquired a new stake in ReNew Energy Global in the 4th quarter valued at about $65,000. SG Americas Securities LLC purchased a new position in ReNew Energy Global during the 4th quarter valued at about $75,000. Quantbot Technologies LP raised its position in ReNew Energy Global by 454.7% during the third quarter. Quantbot Technologies LP now owns 15,788 shares of the company’s stock worth $99,000 after acquiring an additional 12,942 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of ReNew Energy Global in the fourth quarter valued at about $107,000. Hedge funds and other institutional investors own 43.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Roth Mkm cut their price objective on ReNew Energy Global from $8.00 to $7.50 and set a “buy” rating for the company in a research report on Friday, February 21st.

ReNew Energy Global Stock Down 4.8 %

Shares of NASDAQ:RNW opened at $5.78 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.60 and a debt-to-equity ratio of 4.74. The company has a market capitalization of $2.10 billion, a P/E ratio of 115.60 and a beta of 0.89. ReNew Energy Global Plc has a 52-week low of $5.15 and a 52-week high of $7.49. The stock’s fifty day simple moving average is $6.31 and its 200-day simple moving average is $6.28.

ReNew Energy Global (NASDAQ:RNW) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $20.22 billion. ReNew Energy Global had a return on equity of 1.75% and a net margin of 2.17%. As a group, equities research analysts forecast that ReNew Energy Global Plc will post 0.15 earnings per share for the current fiscal year.

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.