Kayne Anderson Capital Advisors LP Has $7.04 Million Position in ReNew Energy Global Plc (NASDAQ:RNW)

Kayne Anderson Capital Advisors LP lessened its stake in ReNew Energy Global Plc (NASDAQ:RNW) by 44.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 918,834 shares of the company’s stock after selling 735,650 shares during the quarter. Kayne Anderson Capital Advisors LP owned 0.25% of ReNew Energy Global worth $7,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pale Fire Capital SE acquired a new position in shares of ReNew Energy Global in the third quarter worth $54,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of ReNew Energy Global during the 3rd quarter valued at about $90,000. Syon Capital LLC bought a new stake in shares of ReNew Energy Global in the 3rd quarter valued at approximately $93,000. Victory Capital Management Inc. acquired a new position in ReNew Energy Global in the fourth quarter worth approximately $136,000. Finally, Cerity Partners LLC bought a new position in ReNew Energy Global during the fourth quarter valued at approximately $180,000. Hedge funds and other institutional investors own 43.56% of the company’s stock.

ReNew Energy Global Stock Performance

ReNew Energy Global stock traded up $0.04 during mid-day trading on Thursday, reaching $6.06. The company had a trading volume of 53,382 shares, compared to its average volume of 606,962. The company has a 50 day moving average of $6.00 and a 200-day moving average of $6.38. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 4.57. ReNew Energy Global Plc has a 52 week low of $4.78 and a 52 week high of $7.79. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 60.20 and a beta of 0.91.

ReNew Energy Global (NASDAQ:RNW) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). ReNew Energy Global had a net margin of 3.61% and a return on equity of 2.96%. The company had revenue of $232.00 million during the quarter, compared to analyst estimates of $195.90 million. During the same period in the prior year, the firm earned ($0.15) EPS. On average, sell-side analysts expect that ReNew Energy Global Plc will post 0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm dropped their price target on shares of ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ReNew Energy Global has an average rating of “Buy” and an average price target of $8.35.

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.