Renewable Energy Group, Inc. (REGI) Downgraded by BidaskClub to “Hold”

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

A number of other research firms have also recently issued reports on REGI. Piper Jaffray Companies set a $13.00 target price on Renewable Energy Group and gave the stock a “hold” rating in a report on Saturday, July 22nd. Zacks Investment Research cut Renewable Energy Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 6th. ValuEngine upgraded Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a report on Friday, July 14th. Roth Capital set a $17.00 price objective on shares of Renewable Energy Group and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Finally, Canaccord Genuity restated a “buy” rating and set a $16.00 price objective on shares of Renewable Energy Group in a research note on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $15.00.

Shares of Renewable Energy Group (NASDAQ REGI) traded up 1.37% during mid-day trading on Monday, hitting $11.10. The stock had a trading volume of 396,349 shares. The stock’s 50-day moving average price is $12.18 and its 200-day moving average price is $10.87. The stock’s market capitalization is $429.45 million. Renewable Energy Group has a 12-month low of $7.91 and a 12-month high of $13.39.

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

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In other news, major shareholder Carlson Capital L. P sold 65,000 shares of the stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $12.83, for a total transaction of $833,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher D. Sorrells acquired 5,000 shares of Renewable Energy Group stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average price of $11.14 per share, with a total value of $55,700.00. Following the completion of the purchase, the director now owns 28,146 shares in the company, valued at $313,546.44. The disclosure for this purchase can be found here. Corporate insiders own 2.28% of the company’s stock.

A number of large investors have recently modified their holdings of REGI. Northern Trust Corp increased its stake in shares of Renewable Energy Group by 82.3% in 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 buying an additional 366,009 shares during the period. Formula Growth Ltd. increased its stake in shares of Renewable Energy Group by 87.4% in 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 buying an additional 357,000 shares during the period. Oxford Asset Management purchased a new stake in shares of Renewable Energy Group during the first quarter valued at about $3,225,000. Chicago Equity Partners LLC purchased a new stake in shares of Renewable Energy Group during the second quarter valued at about $3,487,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Renewable Energy Group during the second quarter valued at about $3,340,000.

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.

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