Renewable Energy Group Inc (REGI) Sees Strong Trading Volume
Shares of Renewable Energy Group Inc (NASDAQ:REGI) saw unusually-strong trading volume on Thursday . Approximately 1,013,921 shares were traded during mid-day 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.
Several research analysts have weighed in on REGI shares. TheStreet upgraded Renewable Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, April 22nd. Zacks Investment Research downgraded Renewable Energy Group from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, May 4th. Roth Capital restated a “buy” rating on shares of Renewable Energy Group in a research note on Wednesday, May 4th. Finally, Canaccord Genuity restated a “hold” rating on shares of Renewable Energy Group in a research note on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $10.67.
The company’s 50-day moving average price is $9.00 and its 200-day moving average price is $8.68. The stock’s market capitalization is $357.78 million.
Renewable Energy Group (NASDAQ:REGI) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.12. During the same period in the previous year, the business earned ($0.05) EPS. The firm earned $558 million during the quarter, compared to analyst estimates of $417.78 million. Renewable Energy Group’s quarterly revenue was up 49.3% on a year-over-year basis. Analysts predict that Renewable Energy Group Inc will post $0.96 earnings per share for the current fiscal year.
In other news, Director Michael A. Jackson sold 8,269 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 17,107 shares in the company, valued at $158,239.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A hedge fund recently raised its stake in Renewable Energy Group stock. California Public Employees Retirement System raised its position 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 about 1.26% of Renewable Energy Group worth $5,118,000 as of its most recent SEC filing.
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.