Renewable Energy Group Inc (REGI) Trading 2.9% Higher
Renewable Energy Group Inc (NASDAQ:REGI) shares traded up 2.9% during mid-day trading on Wednesday . The stock traded as high as $9.25 and last traded at $9.12, with a volume of 111,901 shares traded. The stock had previously closed at $8.86.
A number of research analysts have recently weighed in on REGI shares. TheStreet raised Renewable Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, April 22nd. Roth Capital reissued a “buy” rating on shares of Renewable Energy Group in a research note on Wednesday, May 4th. Canaccord Genuity reissued a “hold” rating on shares of Renewable Energy Group in a research note on Wednesday, May 4th. Zacks Investment Research downgraded Renewable Energy Group from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, May 4th. Finally, Piper Jaffray Cos. increased their price target on 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 issued a buy rating to the company. Renewable Energy Group presently has an average rating of “Buy” and an average target price of $10.67.
The company’s 50 day moving average price is $8.73 and its 200-day moving average price is $8.51. The stock’s market capitalization is $422.30 million.
Renewable Energy Group (NASDAQ:REGI) last posted its earnings results on Tuesday, May 3rd. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The company had revenue of $305.60 million for the quarter, compared to the consensus estimate of $268.12 million. During the same period in the previous year, the firm posted ($0.86) EPS. The business’s quarterly revenue was up 32.4% compared to the same quarter last year. On average, equities analysts expect that Renewable Energy Group Inc will post $0.96 earnings per share for the current year.
In other news, Director Michael A. Jackson sold 8,269 shares of Renewable Energy Group stock in a transaction on Monday, May 16th. The shares were sold at an average price of $9.25, for a total transaction of $76,488.25. Following the transaction, the director now owns 17,107 shares in the company, valued at $158,239.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
An institutional investor recently raised its position in Renewable Energy Group stock. California Public Employees Retirement System raised its position in Renewable Energy Group Inc (NASDAQ:REGI) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 about 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.
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