ReNew Energy Global PLC (NASDAQ:RNW) Sees Significant Growth in Short Interest

ReNew Energy Global PLC (NASDAQ:RNW - Get Free Report) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totaling 3,795,308 shares, a growth of 41.3% from the December 15th total of 2,686,755 shares. Currently, 1.1% of the company's stock are sold short. Based on an average daily volume of 2,358,227 shares, the short-interest ratio is currently 1.6 days. Based on an average daily volume of 2,358,227 shares, the short-interest ratio is currently 1.6 days. Currently, 1.1% of the company's stock are sold short.Get ReNew Energy Global alerts:Wall Street Analyst Weigh InSpark up your portfolio with the top energy stock: ReNew EnergyA number of research analysts have recently weighed in on the company. Mizuho dropped their target price on ReNew Energy Global from $8.15 to $7.00 and set a "neutral" rating on the stock in a report on Tuesday, December 16th. Weiss Ratings reissued a "hold (c)" rating on shares of ReNew Energy Global in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, ReNew Energy Global presently has an average rating of "Hold" and a consensus target price of $7.25.Check Out Our Latest Stock Report on RNWReNew Energy Global Stock PerformanceRNW stock opened at $5.38 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 4.34. The firm has a market cap of $1.95 billion, a PE ratio of 17.35 and a beta of 0.91. The business has a 50 day moving average of $6.51 and a 200-day moving average of $7.25. ReNew Energy Global has a 12-month low of $5.05 and a 12-month high of $8.24. ReNew Energy Global (NASDAQ:RNW - Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.04). The business had revenue of $433.94 million for the quarter, compared to the consensus estimate of $403.19 million. ReNew Energy Global had a return on equity of 7.90% and a net margin of 5.37%. As a group, sell-side analysts expect that ReNew Energy Global will post 0.15 earnings per share for the current year. Hedge Funds Weigh In On ReNew Energy GlobalSeveral institutional investors have recently added to or reduced their stakes in RNW. Franklin Resources Inc. raised its position in ReNew Energy Global by 21.8% in the second quarter. Franklin Resources Inc. now owns 14,187,989 shares of the company's stock worth $98,039,000 after acquiring an additional 2,540,442 shares during the period. Invesco Ltd. grew its position in shares of ReNew Energy Global by 25.4% during the 3rd quarter. Invesco Ltd. now owns 2,349,062 shares of the company's stock valued at $18,088,000 after acquiring an additional 475,258 shares during the period. M&G PLC increased its stake in shares of ReNew Energy Global by 14.6% during the 2nd quarter. M&G PLC now owns 2,188,498 shares of the company's stock worth $15,319,000 after purchasing an additional 278,863 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of ReNew Energy Global by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 699,905 shares of the company's stock worth $5,389,000 after purchasing an additional 57,508 shares during the period. Finally, Citigroup Inc. raised its holdings in shares of ReNew Energy Global by 12.7% in the 3rd quarter. Citigroup Inc. now owns 542,792 shares of the company's stock worth $4,179,000 after purchasing an additional 61,163 shares during the period. Institutional investors own 43.56% of the company's stock. ReNew Energy Global Company Profile (Get Free Report)ReNew Energy Global PLC is an independent power producer specializing in the development, construction, ownership and operation of utility-scale renewable energy projects. Headquartered in Gurugram, India, the company focuses on onshore wind farms, solar photovoltaic plants and hybrid energy systems, often paired with battery energy storage to enhance grid stability and dispatch flexibility. ReNew Energy Global markets electricity under long-term power purchase agreements, serving utilities, distribution companies and corporate offtakers. The company’s core business activities encompass site identification, project design, procurement, construction management and ongoing asset management.Read MoreFive stocks we like better than ReNew Energy GlobalElon Taking SpaceX Public! $100 Pre-IPO Opportunity!How a Family Trust May Be Able To Help Preserve Your WealthA U.S. “birthright” claim worth trillions - activated quietlyExecutive Order 14330: Trump’s Biggest Yet“Fed Proof” Your Bank Account with THESE 4 Simple StepsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in ReNew Energy Global Right Now?Before you consider ReNew Energy Global, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ReNew Energy Global wasn't on the list.While ReNew Energy Global currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here