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

ReNew Energy Global (NASDAQ:RNW) posted its quarterly earnings data on Tuesday. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.07), Zacks reports. The business had revenue of $248.00 million for the quarter, compared to the consensus estimate of $20.22 billion. ReNew Energy Global had a return on equity of 1.74% and a net margin of 2.17%.

ReNew Energy Global Price Performance

RNW stock opened at $6.45 on Thursday. The company has a debt-to-equity ratio of 4.51, a quick ratio of 0.64 and a current ratio of 0.65. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 129.00 and a beta of 0.89. The firm has a 50 day moving average price of $6.76 and a 200-day moving average price of $6.21. ReNew Energy Global has a 52-week low of $5.15 and a 52-week high of $7.49.

Hedge Funds Weigh In On ReNew Energy Global

A hedge fund recently raised its stake 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 disclosure with the SEC. The fund 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 as of its most recent SEC filing. 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.