Zacks Investment Research cut shares of Renewable Energy Group (NASDAQ:REGI) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday.
According to Zacks, “Renewable Energy Group, Inc. produces and sells biofuels and renewable chemicals in the U.S. It operates through Biomass-Based Diesel, Services, Renewable Chemicals, and Corporate and Other segments. It produces biomass-based diesel from a range of feedstocks, including inedible corn oil, used cooking oil, soybean oil, canola oil, and inedible animal fat. This segment is also involved in the purchase and resale of biomass-based diesel, petroleum-based diesel, renewable identification numbers, and raw material feedstocks acquired from third parties; and sale of glycerin, free fatty acids, naphtha, and other co-products of the biomass-based diesel production process. The Services segment provides facility management and operational services to biomass-based diesel production facilities, as well as to other clean-tech companies. This segment also offers construction management services for biomass-based diesel production facilities. REG is committed to being a long-term leader in bio-based fuel and chemicals. “
A number of other research firms also recently weighed in on REGI. BidaskClub upgraded Renewable Energy Group from a buy rating to a strong-buy rating in a research report on Saturday, February 2nd. TheStreet upgraded Renewable Energy Group from a c+ rating to a b rating in a report on Wednesday, November 14th. Two analysts have rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the stock. Renewable Energy Group currently has an average rating of Hold and a consensus target price of $29.67.
REGI stock opened at $23.93 on Tuesday. The firm has a market cap of $879.51 million, a PE ratio of -11.73 and a beta of 0.95. Renewable Energy Group has a twelve month low of $11.30 and a twelve month high of $32.52. The company has a quick ratio of 1.01, a current ratio of 1.58 and a debt-to-equity ratio of 0.04.
In other Renewable Energy Group news, Director Peter John Martin Harding purchased 5,000 shares of the stock in a transaction on Monday, December 17th. The stock was bought at an average cost of $23.94 per share, for a total transaction of $119,700.00. Following the completion of the acquisition, the director now directly owns 100,526 shares of the company’s stock, valued at $2,406,592.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Delbert Christensen purchased 1,750 shares of the stock in a transaction on Friday, March 8th. The stock was acquired at an average price of $23.01 per share, with a total value of $40,267.50. Following the completion of the acquisition, the director now directly owns 76,191 shares of the company’s stock, valued at $1,753,154.91. The disclosure for this purchase can be found here. 1.97% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in REGI. IFP Advisors Inc boosted its position in shares of Renewable Energy Group by 193.9% during the fourth quarter. IFP Advisors Inc now owns 1,061 shares of the oil and gas company’s stock worth $27,000 after buying an additional 700 shares during the period. Pearl River Capital LLC acquired a new position in shares of Renewable Energy Group during the fourth quarter worth about $38,000. Advisory Services Network LLC acquired a new position in shares of Renewable Energy Group during the fourth quarter worth about $56,000. CoreCommodity Management LLC acquired a new position in shares of Renewable Energy Group during the fourth quarter worth about $78,000. Finally, US Bancorp DE boosted its position in shares of Renewable Energy Group by 143.3% during the third quarter. US Bancorp DE now owns 4,717 shares of the oil and gas company’s stock worth $136,000 after buying an additional 2,778 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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