ReNew Energy Global Plc (NASDAQ:RNW) Short Interest Down 50.1% in January

ReNew Energy Global Plc (NASDAQ:RNW) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 2,200,000 shares, a decrease of 50.1% from the December 31st total of 4,410,000 shares. Based on an average daily volume of 1,130,000 shares, the days-to-cover ratio is currently 1.9 days. Currently, 1.4% of the shares of the company are sold short.

Institutional Trading of ReNew Energy Global

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in ReNew Energy Global by 50.9% in the 2nd quarter. Renaissance Technologies LLC now owns 34,100 shares of the company’s stock worth $213,000 after purchasing an additional 11,500 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in ReNew Energy Global by 12.7% in 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. Cubist Systematic Strategies LLC boosted its stake in ReNew Energy Global by 784,825.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 62,794 shares of the company’s stock worth $392,000 after purchasing an additional 62,786 shares during the period. Millennium Management LLC boosted its stake in ReNew Energy Global by 60.5% in the 2nd quarter. Millennium Management LLC now owns 4,779,016 shares of the company’s stock worth $29,821,000 after purchasing an additional 1,802,191 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in ReNew Energy Global by 8.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 837,181 shares of the company’s stock worth $5,224,000 after purchasing an additional 66,172 shares during the period. 43.56% of the stock is owned by institutional investors.

ReNew Energy Global Stock Performance

RNW traded down $0.03 during trading on Thursday, reaching $6.55. 349,023 shares of the company’s stock were exchanged, compared to its average volume of 1,271,795. The company has a market capitalization of $2.37 billion, a P/E ratio of 109.10 and a beta of 0.90. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 4.51. The business has a 50 day moving average price of $6.63 and a 200 day moving average price of $6.12. ReNew Energy Global has a fifty-two week low of $5.15 and a fifty-two week high of $7.49.

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.