ReNew Energy Global (NASDAQ:RNW) Sets New 1-Year Low - Here's What Happened

ReNew Energy Global Plc (NASDAQ:RNW - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.02 and last traded at $5.85, with a volume of 632 shares traded. The stock had previously closed at $5.82.Get ReNew Energy Global alerts:Wall Street Analysts Forecast GrowthSpark up your portfolio with the top energy stock: ReNew EnergySeparately, Roth Mkm cut their target price on ReNew Energy Global from $8.00 to $7.50 and set a "buy" rating for the company in a research note on Friday, February 21st.Check Out Our Latest Report on ReNew Energy GlobalReNew Energy Global Stock Up 0.6 %The firm's fifty day simple moving average is $6.57 and its two-hundred day simple moving average is $6.26. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 117.60 and a beta of 0.89. The company has a current ratio of 0.60, a quick ratio of 0.64 and a debt-to-equity ratio of 4.74. ReNew Energy Global (NASDAQ:RNW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.07). ReNew Energy Global had a return on equity of 1.75% and a net margin of 2.17%. The business had revenue of $248.00 million during the quarter, compared to analysts' expectations of $20.22 billion. Sell-side analysts anticipate that ReNew Energy Global Plc will post 0.15 EPS for the current year. Institutional Inflows and OutflowsSeveral hedge funds have recently bought and sold shares of RNW. Point72 Asset Management L.P. acquired a new position in shares of ReNew Energy Global in the 4th quarter worth approximately $25,000. BNP Paribas Financial Markets purchased a new stake in ReNew Energy Global in the fourth quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new position in ReNew Energy Global during the fourth quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of ReNew Energy Global during the fourth quarter worth $52,000. Finally, Signaturefd LLC purchased a new stake in shares of ReNew Energy Global in the 4th quarter valued at $65,000. Hedge funds and other institutional investors own 43.56% of the company's stock. ReNew Energy Global Company Profile (Get Free Report)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.Read MoreFive stocks we like better than ReNew Energy GlobalShould You Add These Warren Buffett Stocks to Your Portfolio?3 Stocks Institutions Are Quietly DumpingHow to Effectively Use the MarketBeat Ratings ScreenerModerna: 4 Key Reasons the CEO Just Bought $5M in SharesHow to Plot Fibonacci Price Inflection Levels Walgreens Boots Alliance: Don’t Write Off This Asset Champ YetThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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 Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here