Renewable Energy Group Inc (NASDAQ:REGI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Renewable Energy Group Inc. is a biodiesel manufacturer and marketer. The Company is focused on converting natural fats, oils and greases into biodiesel. It sells REG-9000 biodiesel to distributors throughout the United States. Renewable Energy Group Inc. is headquartered in Ames, Iowa. “
Separately, Canaccord Genuity reiterated a “hold” rating and set a $10.50 price objective on shares of Renewable Energy Group in a research note on Wednesday, September 14th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Renewable Energy Group presently has an average rating of “Hold” and an average price target of $10.67.
Renewable Energy Group (NASDAQ:REGI) opened at 8.81 on Thursday. The stock’s 50 day moving average is $8.58 and its 200 day moving average is $9.03. Renewable Energy Group has a 52 week low of $6.02 and a 52 week high of $10.43. The stock’s market cap is $340.76 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 consensus estimate of $0.28 by $0.12. The company had revenue of $558 million for the quarter, compared to analysts’ expectations of $417.78 million. The firm’s quarterly revenue was up 49.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) EPS. Analysts predict that Renewable Energy Group will post $1.25 EPS for the current year.
In related news, Director Peter John Martin Harding purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were acquired at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the purchase, the director now owns 49,271 shares of the company’s stock, valued at approximately $446,887.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp raised its position in shares of Renewable Energy Group by 1.1% in the second quarter. State Street Corp now owns 617,067 shares of the company’s stock worth $5,451,000 after buying an additional 6,862 shares during the last quarter. BlackRock Inc. raised its position in shares of Renewable Energy Group by 181.2% in the second quarter. BlackRock Inc. now owns 12,324 shares of the company’s stock worth $109,000 after buying an additional 7,942 shares during the last quarter. BlackRock Investment Management LLC raised its position in shares of Renewable Energy Group by 5.5% in the second quarter. BlackRock Investment Management LLC now owns 179,945 shares of the company’s stock worth $1,589,000 after buying an additional 9,401 shares during the last quarter. Swiss National Bank raised its position in shares of Renewable Energy Group by 18.2% in the second quarter. Swiss National Bank now owns 64,400 shares of the company’s stock worth $569,000 after buying an additional 9,900 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of Renewable Energy Group by 92.0% in the second quarter. Panagora Asset Management Inc. now owns 27,155 shares of the company’s stock worth $240,000 after buying an additional 13,012 shares during the last quarter.
Renewable Energy Group Company Profile
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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