Renewable Energy Group, Inc. (REGI) Downgraded by BidaskClub

Renewable Energy Group, Inc. (NASDAQ:REGI) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, July 31st.

REGI has been the subject of several other reports. Zacks Investment Research raised shares of Renewable Energy Group from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research note on Tuesday, May 9th. Canaccord Genuity raised shares of Renewable Energy Group from a “hold” rating to a “buy” rating and boosted their price objective for the company 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 company a “hold” rating in a research note on Saturday, July 22nd. 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. Finally, ValuEngine raised shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.00.

Shares of Renewable Energy Group (NASDAQ REGI) opened at 11.55 on Monday. Renewable Energy Group has a 1-year low of $7.91 and a 1-year high of $13.39. The stock has a 50 day moving average price of $12.38 and a 200-day moving average price of $10.78. The stock’s market capitalization is $446.86 million.

Renewable Energy Group (NASDAQ:REGI) last released its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.13. The firm had revenue of $535.10 million during the quarter, compared to analysts’ expectations of $531.88 million. Renewable Energy Group had a positive return on equity of 6.20% and a negative net margin of 0.36%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. On average, analysts forecast that Renewable Energy Group will post $1.56 earnings per share for the current year.

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In other news, Director Christopher D. Sorrells acquired 5,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were purchased at an average price of $11.14 per share, for a total transaction of $55,700.00. Following the acquisition, the director now directly owns 28,146 shares of the company’s stock, valued at approximately $313,546.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Carlson Capital L. P sold 65,000 shares of the business’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 disclosure for this sale can be found here. 2.28% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the stock. Denver Investment Advisors LLC bought a new stake in shares of Renewable Energy Group during the first quarter worth about $113,000. Oppenheimer & Co. Inc. bought a new stake in shares of Renewable Energy Group during the second quarter worth about $142,000. Federated Investors Inc. PA raised its stake in shares of 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 during the period. O Shaughnessy Asset Management LLC raised its stake in shares of 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 during the period. Finally, Gilbert & Cook Inc. raised its stake in shares of Renewable Energy Group by 1.8% in the second quarter. Gilbert & Cook Inc. now owns 12,623 shares of the oil and gas company’s stock worth $163,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 98.17% of the company’s stock.

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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