Renewable Energy Group Inc (REGI) Shares Up 2.9%
Renewable Energy Group Inc (NASDAQ:REGI)’s share price shot up 2.9% during trading on Wednesday . The stock traded as high as $9.25 and last traded at $9.12, with a volume of 111,901 shares changing hands. The stock had previously closed at $8.86.
Several research firms recently commented on REGI. TheStreet upgraded shares of Renewable Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, April 22nd. Roth Capital reiterated a “buy” rating on shares of Renewable Energy Group in a research note on Wednesday, May 4th. Canaccord Genuity reiterated a “hold” rating on shares of Renewable Energy Group in a research note on Wednesday, May 4th. Zacks Investment Research cut shares of Renewable Energy Group from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, May 4th. Finally, Piper Jaffray Cos. upped their target price on shares of Renewable Energy Group from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Wednesday, April 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Renewable Energy Group presently has an average rating of “Buy” and a consensus price target of $10.67.
The stock’s 50 day moving average is $8.74 and its 200 day moving average is $8.50. The firm’s market cap is $399.13 million.
Renewable Energy Group (NASDAQ:REGI) last released its earnings results on Tuesday, May 3rd. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm earned $305.60 million during the quarter, compared to the consensus estimate of $268.12 million. During the same period in the prior year, the business posted ($0.86) earnings per share. Renewable Energy Group’s quarterly revenue was up 32.4% compared to the same quarter last year. On average, equities research analysts forecast that Renewable Energy Group Inc will post $0.96 earnings per share for the current fiscal year.
In related news, Director Michael A. Jackson sold 8,269 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $9.25, for a total value of $76,488.25. Following the completion of the transaction, the director now directly owns 17,107 shares of the company’s stock, valued at $158,239.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
An institutional investor recently raised its position in Renewable Energy Group stock. California Public Employees Retirement System boosted its stake in shares of Renewable Energy Group Inc (NASDAQ:REGI) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 550,967 shares of the company’s stock after buying an additional 24,378 shares during the period. California Public Employees Retirement System owned 1.26% of Renewable Energy Group worth $5,118,000 at the end of the most recent reporting period.
Renewable Energy Group, Inc is focused on providing cleaner, lower carbon intensity products and services while also providing conventional products and services. The Company is a producer of biomass-based diesel in the United States. Its segments include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.