ReNew Energy Global (NASDAQ:RNW) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

ReNew Energy Global (NASDAQ:RNW) posted its earnings results on Tuesday. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.07), Zacks reports. ReNew Energy Global had a return on equity of 2.16% and a net margin of 2.70%.

ReNew Energy Global Price Performance

ReNew Energy Global stock opened at $6.76 on Wednesday. The company has a debt-to-equity ratio of 4.51, a current ratio of 0.65 and a quick ratio of 0.64. The company has a market capitalization of $2.45 billion, a PE ratio of 112.69 and a beta of 0.89. ReNew Energy Global has a one year low of $5.15 and a one year high of $7.49. The business has a 50 day simple moving average of $6.78 and a 200 day simple moving average of $6.20.

Hedge Funds Weigh In On ReNew Energy Global

An institutional investor recently raised its position in ReNew Energy Global stock. Bank of America Corp DE grew its position in ReNew Energy Global Plc (NASDAQ:RNW) by 722.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,621 shares of the company’s stock after buying an additional 13,721 shares during the period. Bank of America Corp DE’s holdings in ReNew Energy Global were worth $107,000 at the end of the most recent reporting period. Hedge funds and other 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.