ReNew Energy Global Plc (NASDAQ:RNW) Short Interest Update

ReNew Energy Global Plc (NASDAQ:RNW) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 5,070,000 shares, a decline of 21.4% from the November 15th total of 6,450,000 shares. Based on an average daily volume of 862,200 shares, the days-to-cover ratio is presently 5.9 days. Currently, 3.2% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RNW. Morgan Stanley downgraded shares of ReNew Energy Global from an “overweight” rating to an “equal weight” rating in a research note on Thursday, September 26th. Roth Mkm cut their price target on ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, August 19th.

ReNew Energy Global Trading Down 1.7 %

Shares of RNW stock traded down $0.12 on Friday, reaching $7.09. The company had a trading volume of 1,718,378 shares, compared to its average volume of 1,288,970. The stock has a market cap of $2.57 billion, a PE ratio of 118.19 and a beta of 0.96. The company has a 50-day moving average of $5.91 and a 200-day moving average of $5.98. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 4.51. ReNew Energy Global has a 12 month low of $5.15 and a 12 month high of $7.79.

Institutional Investors Weigh In On ReNew Energy Global

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of ReNew Energy Global by 58.1% during the third quarter. Van ECK Associates Corp now owns 12,278 shares of the company’s stock worth $72,000 after purchasing an additional 4,513 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in ReNew Energy Global by 23.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 12,672 shares of the company’s stock worth $80,000 after acquiring an additional 2,379 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake 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 during the period. Quantbot Technologies LP increased its holdings in shares of ReNew Energy Global by 454.7% in 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 in the last quarter. Finally, Barclays PLC raised its position in shares of ReNew Energy Global by 382.5% during the third quarter. Barclays PLC now owns 26,381 shares of the company’s stock worth $166,000 after purchasing an additional 20,913 shares during the period. Institutional investors own 43.56% of the company’s stock.

About ReNew Energy Global

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.