ReNew Energy Global (NASDAQ:RNW) Cut to Equal Weight at Morgan Stanley

Morgan Stanley cut shares of ReNew Energy Global (NASDAQ:RNW) from an overweight rating to an equal weight rating in a research note issued to investors on Thursday, MarketBeat.com reports.

Separately, Roth Mkm dropped their price objective on shares of ReNew Energy Global from $9.00 to $8.00 and set a buy rating on the stock in a report on Monday, August 19th.

ReNew Energy Global Trading Up 0.5 %

Shares of RNW opened at $6.29 on Thursday. The stock has a market capitalization of $2.28 billion, a P/E ratio of 52.42 and a beta of 0.92. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 4.65. The firm has a fifty day simple moving average of $5.92 and a two-hundred day simple moving average of $5.98. ReNew Energy Global has a twelve month low of $4.78 and a twelve month high of $7.79.

Institutional Trading of ReNew Energy Global

A number of institutional investors and hedge funds have recently made changes to their positions in RNW. Mercer Global Advisors Inc. ADV boosted its stake in ReNew Energy Global by 12.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 15,187 shares of the company’s stock worth $95,000 after buying an additional 1,709 shares during the last quarter. Tidal Investments LLC boosted its stake in ReNew Energy Global by 3.5% during the first quarter. Tidal Investments LLC now owns 87,575 shares of the company’s stock worth $525,000 after buying an additional 2,924 shares during the last quarter. Renaissance Technologies LLC boosted its stake in ReNew Energy Global by 50.9% during the second quarter. Renaissance Technologies LLC now owns 34,100 shares of the company’s stock worth $213,000 after buying an additional 11,500 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in ReNew Energy Global during the fourth quarter worth $113,000. Finally, Everett Harris & Co. CA acquired a new position in ReNew Energy Global during the first quarter worth $90,000. 43.56% of the stock is currently owned by hedge funds and other institutional investors.

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.