Renewable Energy Group, Inc. (REGI) Stock Rating Lowered by BidaskClub
Renewable Energy Group, Inc. (NASDAQ:REGI) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.
A number of other brokerages have also issued reports on REGI. Zacks Investment Research upgraded shares of Renewable Energy Group from a “hold” rating to a “strong-buy” rating and set a $14.00 price target on the stock in a research note on Tuesday, May 9th. Canaccord Genuity upgraded shares of Renewable Energy Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $16.00 in a research note on Friday, May 5th. Piper Jaffray Companies set a $13.00 price objective on shares of Renewable Energy Group and gave the stock a “hold” rating in a report on Saturday, July 22nd. Roth Capital set a $17.00 price objective on shares of Renewable Energy Group and gave the stock a “buy” rating in a report on Wednesday, June 14th. Finally, ValuEngine downgraded shares of Renewable Energy Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $15.00.
Renewable Energy Group (NASDAQ:REGI) traded up 1.37% during midday trading on Friday, hitting $11.10. 396,349 shares of the stock traded hands. The company’s market cap is $429.45 million. Renewable Energy Group has a one year low of $7.91 and a one year high of $13.39. The company’s 50 day moving average is $12.18 and its 200-day moving average is $10.87.
Renewable Energy Group (NASDAQ:REGI) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by $0.13. Renewable Energy Group had a positive return on equity of 6.20% and a negative net margin of 0.36%. The firm had revenue of $535.10 million for the quarter, compared to analyst estimates of $531.88 million. During the same quarter last year, the firm earned $0.18 earnings per share. The company’s revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Renewable Energy Group will post ($1.56) EPS for the current fiscal year.
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In related news, Director Christopher D. Sorrells acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were purchased at an average price of $11.14 per share, with a total value of $55,700.00. Following the completion of the acquisition, the director now owns 28,146 shares in the company, valued at $313,546.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Carlson Capital L. P sold 65,000 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $12.83, for a total transaction of $833,950.00. The disclosure for this sale can be found here. 2.28% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in REGI. C M Bidwell & Associates Ltd. bought a new stake in Renewable Energy Group during the second quarter worth approximately $110,000. Denver Investment Advisors LLC bought a new stake in Renewable Energy Group during the first quarter worth approximately $113,000. O Shaughnessy Asset Management LLC increased its stake in Renewable Energy Group by 155.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 11,754 shares of the oil and gas company’s stock worth $123,000 after buying an additional 7,160 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Renewable Energy Group during the second quarter worth approximately $142,000. Finally, Federated Investors Inc. PA increased its stake in Renewable Energy Group by 17.8% in the second quarter. Federated Investors Inc. PA now owns 11,029 shares of the oil and gas company’s stock worth $143,000 after buying an additional 1,668 shares in the last quarter.
Renewable Energy Group Company Profile
Renewable Energy Group, Inc is focused on providing cleaner, lower carbon intensity products and services. The Company is a producer of biomass-based diesel in North America. Its segments include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities. It is involved in various activities related to biomass-based diesel production, from acquiring feedstock, managing construction and operating biomass-based diesel production facilities to marketing, selling and distributing biomass-based diesel and its co-products.
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