Renewable Energy Group, Inc. (REGI) Sees Strong Trading Volume

Renewable Energy Group, Inc. (NASDAQ:REGI) shares saw an uptick in trading volume on Wednesday . 739,282 shares were traded during mid-day trading, an increase of 63% from the previous session’s volume of 454,886 shares.The stock last traded at $13.40 and had previously closed at $12.90.

Several brokerages have issued reports on REGI. ValuEngine raised shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 14th. Roth Capital set a $17.00 price objective on shares of Renewable Energy Group and gave the company a “buy” rating in a research note on Wednesday, June 14th. BidaskClub raised shares of Renewable Energy Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Piper Jaffray Companies set a $13.00 price objective on shares of Renewable Energy Group and gave the company a “hold” rating in a research note on Saturday, July 22nd. Finally, Canaccord Genuity reissued a “buy” rating and issued a $16.00 price objective on shares of Renewable Energy Group in a research note on Wednesday, June 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $15.00.

The company’s market cap is $518.43 million. The firm has a 50-day moving average price of $12.02 and a 200-day moving average price of $11.42.

Renewable Energy Group (NASDAQ:REGI) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.13). The business had revenue of $535.10 million for the quarter, compared to analyst estimates of $531.88 million. Renewable Energy Group had a negative net margin of 0.36% and a positive return on equity of 6.20%. Renewable Energy Group’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the business posted $0.18 earnings per share. Equities analysts predict that Renewable Energy Group, Inc. will post ($1.56) earnings per share for the current year.

In other news, major shareholder Carlson Capital L. P sold 65,000 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $12.83, for a total transaction of $833,950.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.28% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of REGI. Northern Trust Corp increased its holdings in shares of Renewable Energy Group by 82.3% during the second quarter. Northern Trust Corp now owns 810,886 shares of the oil and gas company’s stock valued at $10,501,000 after purchasing an additional 366,009 shares during the period. Formula Growth Ltd. increased its holdings in shares of Renewable Energy Group by 87.4% during the second quarter. Formula Growth Ltd. now owns 765,595 shares of the oil and gas company’s stock valued at $9,914,000 after purchasing an additional 357,000 shares during the period. Chicago Equity Partners LLC acquired a new position in shares of Renewable Energy Group during the second quarter valued at $3,487,000. Prudential Financial Inc. acquired a new position in shares of Renewable Energy Group during the second quarter valued at $3,340,000. Finally, Systematic Financial Management LP increased its holdings in shares of Renewable Energy Group by 114.9% during the second quarter. Systematic Financial Management LP now owns 368,495 shares of the oil and gas company’s stock valued at $4,772,000 after purchasing an additional 197,005 shares during the period.

COPYRIGHT VIOLATION WARNING: “Renewable Energy Group, Inc. (REGI) Sees Strong Trading Volume” was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://www.chaffeybreeze.com/2017/09/20/renewable-energy-group-inc-regi-sees-strong-trading-volume.html.

About Renewable Energy Group

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.

Receive News & Ratings for Renewable Energy Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renewable Energy Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply