Franklin Resources Inc. Acquires New Stake in ReNew Energy Global Plc (NASDAQ:RNW)

Franklin Resources Inc. bought a new position in ReNew Energy Global Plc (NASDAQ:RNW) in the 3rd quarter, Holdings Channel.com reports. The firm bought 1,953,667 shares of the company’s stock, valued at approximately $11,585,000.

Several other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of ReNew Energy Global by 58.1% in the third quarter. Van ECK Associates Corp now owns 12,278 shares of the company’s stock valued at $72,000 after buying an additional 4,513 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of ReNew Energy Global by 23.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 12,672 shares of the company’s stock worth $80,000 after purchasing an additional 2,379 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of ReNew Energy Global by 12.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 15,187 shares of the company’s stock worth $95,000 after purchasing 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 3rd quarter. Quantbot Technologies LP now owns 15,788 shares of the company’s stock valued at $99,000 after purchasing an additional 12,942 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of ReNew Energy Global by 382.5% in the third quarter. Barclays PLC now owns 26,381 shares of the company’s stock valued at $166,000 after purchasing an additional 20,913 shares during the period. Institutional investors and hedge funds own 43.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered shares of ReNew Energy Global from an “overweight” rating to an “equal weight” rating in a research report on Thursday, September 26th.

ReNew Energy Global Stock Down 1.0 %

ReNew Energy Global stock opened at $6.90 on Friday. ReNew Energy Global Plc has a fifty-two week low of $5.15 and a fifty-two week high of $7.79. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 115.02 and a beta of 0.96. The stock’s fifty day moving average is $6.02 and its two-hundred day moving average is $6.01. The company has a debt-to-equity ratio of 4.51, a quick ratio of 0.64 and a current ratio of 0.65.

ReNew Energy Global 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.