Renewable Energy Group Inc (REGI) Trading 2.2% Higher
Renewable Energy Group Inc (NASDAQ:REGI)’s share price traded up 2.2% during mid-day trading on Thursday . The company traded as high as $8.89 and last traded at $8.77, with a volume of 197,585 shares. The stock had previously closed at $8.58.
A number of equities analysts have recently issued reports on the company. Canaccord Genuity restated a “hold” rating and set a $10.50 price objective on shares of Renewable Energy Group in a research report on Thursday, August 4th. Zacks Investment Research downgraded Renewable Energy Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. Finally, Roth Capital restated a “buy” rating on shares of Renewable Energy Group in a research report on Wednesday, May 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.67.
The stock has a 50-day moving average price of $9.11 and a 200 day moving average price of $8.82. The company’s market capitalization is $337.28 million.
Renewable Energy Group (NASDAQ:REGI) last announced its earnings results on Thursday, August 4th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.12. The business earned $558 million during the quarter, compared to analyst estimates of $417.78 million. The firm’s revenue was up 49.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. Analysts predict that Renewable Energy Group Inc will post $1.25 EPS for the current fiscal year.
In other Renewable Energy Group news, Director Peter John Martin Harding bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were acquired at an average cost of $9.07 per share, for a total transaction of $45,350.00. Following the purchase, the director now directly owns 49,271 shares of the company’s stock, valued at $446,887.97. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.
A hedge fund recently raised its stake in Renewable Energy Group stock. Schwab Charles Investment Management Inc. boosted its position in Renewable Energy Group Inc (NASDAQ:REGI) by 27.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 181,726 shares of the company’s stock after buying an additional 38,987 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.41% of Renewable Energy Group worth $1,689,000 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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