Tejara Capital Ltd Buys New Stake in ReNew Energy Global PLC $RNW

Tejara Capital Ltd acquired a new position in ReNew Energy Global PLC (NASDAQ:RNW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 274,800 shares of the company’s stock, valued at approximately $1,553,000.

Other hedge funds have also recently made changes to their positions in the company. Credit Industriel ET Commercial increased its stake in ReNew Energy Global by 123.0% during the fourth quarter. Credit Industriel ET Commercial now owns 139,390 shares of the company’s stock worth $788,000 after acquiring an additional 76,887 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of ReNew Energy Global in the 4th quarter worth approximately $323,000. SBI Securities Co. Ltd. bought a new position in shares of ReNew Energy Global during the 4th quarter valued at approximately $37,000. Hussman Strategic Advisors Inc. purchased a new stake in ReNew Energy Global during the 4th quarter valued at $593,000. Finally, R Squared Ltd lifted its position in ReNew Energy Global by 17.4% in the fourth quarter. R Squared Ltd now owns 38,232 shares of the company’s stock worth $216,000 after buying an additional 5,678 shares during the last quarter. 43.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RNW has been the topic of several recent analyst reports. Weiss Ratings downgraded shares of ReNew Energy Global from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Morgan Stanley set a $6.03 price target on shares of ReNew Energy Global in a report on Monday, February 2nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $6.52.

ReNew Energy Global Stock Performance

Shares of ReNew Energy Global stock opened at $5.54 on Friday. 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 stock’s fifty day moving average price is $5.09 and its 200-day moving average price is $5.84. The firm has a market cap of $2.01 billion, a P/E ratio of 13.19 and a beta of 1.07. ReNew Energy Global PLC has a 12 month low of $4.39 and a 12 month high of $8.24.

ReNew Energy Global (NASDAQ:RNW) last released its quarterly earnings data on Monday, February 16th. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities research analysts expect that ReNew Energy Global PLC will post 0.07 earnings per share for the current fiscal year.

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.