Renewable Energy Group Inc (REGI) Sees Unusually-High Trading Volume
Renewable Energy Group Inc (NASDAQ:REGI) shares saw unusually-high trading volume on Thursday . Approximately 1,013,921 shares changed hands during trading, an increase of 107% from the previous session’s volume of 490,765 shares.The stock last traded at $9.41 and had previously closed at $9.38.
REGI has been the topic of a number of research analyst reports. TheStreet raised Renewable Energy Group from a “sell” rating to a “hold” rating in a report on Friday, April 22nd. Zacks Investment Research raised Renewable Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 6th. Roth Capital reissued a “buy” rating on shares of Renewable Energy Group in a report on Wednesday, May 4th. Finally, Canaccord Genuity reissued a “hold” rating on shares of Renewable Energy Group in a report on Tuesday, May 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Renewable Energy Group presently has an average rating of “Hold” and an average price target of $10.67.
The stock has a 50-day moving average price of $8.99 and a 200-day moving average price of $8.66. The stock’s market cap is $399.05 million.
Renewable Energy Group (NASDAQ:REGI) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by $0.12. The firm earned $558 million during the quarter, compared to analyst estimates of $417.78 million. The company’s revenue for the quarter was up 49.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS. On average, equities research analysts anticipate that Renewable Energy Group Inc will post $0.96 EPS for the current year.
In related news, Director Michael A. Jackson sold 8,269 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $9.25, for a total value of $76,488.25. Following the sale, the director now owns 17,107 shares of the company’s stock, valued at approximately $158,239.75. The sale was disclosed in a legal filing with the SEC, which is available through this link.
An institutional investor recently raised its position in Renewable Energy Group stock. California Public Employees Retirement System increased its stake in shares of 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 firm 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 quarter.
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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