Renewable Energy Group (NASDAQ:REGI) Shares Down 6.4%

Renewable Energy Group, Inc. (NASDAQ:REGI) shares traded down 6.4% on Friday . The company traded as low as $63.80 and last traded at $64.94. 21,322 shares were traded during mid-day trading, a decline of 98% from the average session volume of 1,291,897 shares. The stock had previously closed at $69.35.

Several equities analysts have issued reports on REGI shares. Zacks Investment Research raised Renewable Energy Group from a “strong sell” rating to a “hold” rating in a report on Friday, May 7th. Roth Capital reaffirmed a “neutral” rating and set a $35.00 price target (down previously from $90.00) on shares of Renewable Energy Group in a research report on Monday, May 10th. Citigroup began coverage on Renewable Energy Group in a report on Wednesday. They issued a “buy” rating for the company. Piper Sandler decreased their price target on shares of Renewable Energy Group from $104.00 to $97.00 and set an “overweight” rating for the company in a research note on Tuesday, May 4th. Finally, TheStreet lowered shares of Renewable Energy Group from a “b-” rating to a “c” rating in a research note on Monday, May 3rd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $87.90.

The business has a 50-day moving average price of $61.61. The company has a market cap of $3.06 billion, a PE ratio of 31.33 and a beta of 0.74. The company has a current ratio of 4.97, a quick ratio of 3.48 and a debt-to-equity ratio of 0.01.

Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings results on Sunday, May 2nd. The oil and gas company reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.70. The company had revenue of $539.74 million for the quarter, compared to analyst estimates of $539.29 million. Renewable Energy Group had a net margin of 4.18% and a return on equity of 7.26%. On average, analysts expect that Renewable Energy Group, Inc. will post 3.81 earnings per share for the current fiscal year.

In other Renewable Energy Group news, General Counsel Eric Bowen sold 1,999 shares of the business’s stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $61.40, for a total transaction of $122,738.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey Stroburg sold 10,214 shares of the stock in a transaction on Friday, June 4th. The stock was sold at an average price of $68.07, for a total transaction of $695,266.98. Following the completion of the sale, the director now directly owns 210,079 shares of the company’s stock, valued at approximately $14,300,077.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,213 shares of company stock valued at $1,438,606. 2.47% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. SummerHaven Investment Management LLC purchased a new stake in shares of Renewable Energy Group in the fourth quarter worth about $1,191,000. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Renewable Energy Group by 82.7% in the first quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,418,084 shares of the oil and gas company’s stock valued at $93,650,000 after purchasing an additional 641,916 shares during the period. BlackRock Inc. grew its holdings in Renewable Energy Group by 6.9% during the 1st quarter. BlackRock Inc. now owns 7,882,225 shares of the oil and gas company’s stock valued at $520,541,000 after purchasing an additional 505,944 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in Renewable Energy Group by 3,557.7% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 501,100 shares of the oil and gas company’s stock valued at $33,092,000 after purchasing an additional 487,400 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Renewable Energy Group during the 1st quarter worth $28,728,000. 92.43% of the stock is owned by hedge funds and other institutional investors.

Renewable Energy Group Company Profile (NASDAQ:REGI)

Renewable Energy Group, Inc provides lower carbon transportation fuels in the United States and internationally. The company utilizes a production, distribution, and logistics system to convert natural fats, oils, and greases into advanced biofuels. It operates through Biomass-Based Diesel, Services, and Corporate and Other segments.

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