Renewable Energy Group, Inc. (NASDAQ:REGI) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $15.33.
A number of analysts have recently issued reports on the company. ValuEngine upgraded Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 14th. Roth Capital set a $17.00 price objective on Renewable Energy Group and gave the company a “buy” rating in a report on Wednesday, June 14th. BidaskClub cut Renewable Energy Group from a “buy” rating to a “hold” rating in a report on Monday. Piper Jaffray Companies set a $13.00 price objective on Renewable Energy Group and gave the company a “hold” rating in a report on Saturday, July 22nd. Finally, Canaccord Genuity reissued a “buy” rating and set a $16.00 price objective on shares of Renewable Energy Group in a report on Wednesday, June 14th.
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In related news, major shareholder Carlson Capital L. P sold 65,000 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is available through this link. Also, CFO Chad Stone acquired 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were purchased at an average cost of $11.95 per share, for a total transaction of $35,850.00. Following the completion of the acquisition, the chief financial officer now owns 88,323 shares in the company, valued at approximately $1,055,459.85. The disclosure for this purchase can be found here. Company insiders own 2.28% of the company’s stock.
Several institutional investors have recently made changes to their positions in REGI. Engineers Gate Manager LP boosted its position in shares of Renewable Energy Group by 24.1% in the first quarter. Engineers Gate Manager LP now owns 36,604 shares of the oil and gas company’s stock worth $383,000 after buying an additional 7,117 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Renewable Energy Group during the first quarter worth $363,000. Bank of New York Mellon Corp boosted its position in shares of Renewable Energy Group by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 232,858 shares of the oil and gas company’s stock worth $2,433,000 after buying an additional 4,516 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of Renewable Energy Group during the first quarter worth $531,000. Finally, Bowling Portfolio Management LLC purchased a new position in shares of Renewable Energy Group during the first quarter worth $832,000. 97.82% of the stock is currently owned by institutional investors.
Renewable Energy Group (NASDAQ:REGI) opened at 12.55 on Monday. Renewable Energy Group has a 1-year low of $7.91 and a 1-year high of $13.39. The firm has a market cap of $484.35 million, a P/E ratio of 14.41 and a beta of 1.74. The stock has a 50 day moving average price of $12.42 and a 200 day moving average price of $10.64.
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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