Renewable Energy Group (NASDAQ:REGI) Raised to “Hold” at BidaskClub

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BidaskClub upgraded shares of Renewable Energy Group (NASDAQ:REGI) from a sell rating to a hold rating in a research report sent to investors on Monday morning, BidAskClub reports.

A number of other research firms have also weighed in on REGI. Zacks Investment Research lowered shares of Renewable Energy Group from a hold rating to a strong sell rating in a research note on Tuesday, March 12th. BWS Financial assumed coverage on shares of Renewable Energy Group in a research note on Wednesday, April 24th. They set a buy rating and a $31.00 target price on the stock. Piper Jaffray Companies assumed coverage on shares of Renewable Energy Group in a research note on Thursday, April 4th. They set an overweight rating and a $35.00 target price on the stock. Roth Capital lowered shares of Renewable Energy Group from a buy rating to a neutral rating and cut their target price for the stock from $35.00 to $22.00 in a research note on Friday, May 3rd. Finally, TheStreet lowered shares of Renewable Energy Group from a b rating to a c+ rating in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $28.40.

REGI stock opened at $15.97 on Monday. The stock’s 50 day moving average price is $15.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.27 and a quick ratio of 0.72. Renewable Energy Group has a fifty-two week low of $13.40 and a fifty-two week high of $32.52. The stock has a market capitalization of $609.79 million, a price-to-earnings ratio of 2.36 and a beta of 1.31.

Renewable Energy Group (NASDAQ:REGI) last released its earnings results on Thursday, May 2nd. The oil and gas company reported ($1.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.70) by ($0.41). Renewable Energy Group had a return on equity of 6.23% and a net margin of 1.52%. The firm had revenue of $478.21 million for the quarter, compared to analysts’ expectations of $480.79 million. As a group, sell-side analysts forecast that Renewable Energy Group will post 0.09 earnings per share for the current fiscal year.

In other Renewable Energy Group news, Director Peter John Martin Harding purchased 2,500 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was purchased at an average cost of $16.72 per share, with a total value of $41,800.00. Following the completion of the acquisition, the director now directly owns 108,654 shares of the company’s stock, valued at approximately $1,816,694.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cynthia J. Warner purchased 4,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was acquired at an average cost of $14.16 per share, with a total value of $56,640.00. Following the completion of the acquisition, the insider now directly owns 62,578 shares of the company’s stock, valued at $886,104.48. The disclosure for this purchase can be found here. Insiders sold 41,354 shares of company stock valued at $675,434 over the last ninety days. 3.01% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. LS Investment Advisors LLC boosted its holdings in Renewable Energy Group by 5.2% in the first quarter. LS Investment Advisors LLC now owns 11,144 shares of the oil and gas company’s stock valued at $245,000 after purchasing an additional 554 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Renewable Energy Group by 2.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 25,988 shares of the oil and gas company’s stock valued at $668,000 after acquiring an additional 571 shares during the period. Piedmont Investment Advisors Inc. boosted its holdings in shares of Renewable Energy Group by 6.7% in the first quarter. Piedmont Investment Advisors Inc. now owns 9,463 shares of the oil and gas company’s stock valued at $208,000 after acquiring an additional 594 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Renewable Energy Group by 7.6% in the first quarter. SG Americas Securities LLC now owns 8,657 shares of the oil and gas company’s stock valued at $190,000 after acquiring an additional 613 shares during the period. Finally, Comerica Bank boosted its holdings in shares of Renewable Energy Group by 1.9% in the first quarter. Comerica Bank now owns 36,928 shares of the oil and gas company’s stock valued at $866,000 after acquiring an additional 688 shares during the period.

About Renewable Energy Group

Renewable Energy Group, Inc produces cleaner and lower carbon transportation fuels. The company utilizes an integrated 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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