According to Zacks, “Renewable Energy Group Inc. is a biodiesel manufacturer and marketer. The Company is focused on converting natural fats, oils and greases into biodiesel. It sells REG-9000 biodiesel to distributors throughout the United States. Renewable Energy Group Inc. is headquartered in Ames, Iowa. “
Separately, Canaccord Genuity reaffirmed a hold rating and issued a $10.50 price objective on shares of Renewable Energy Group in a research note on Wednesday, September 14th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $10.67.
Renewable Energy Group (NASDAQ:REGI) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.12. The company had revenue of $558 million for the quarter, compared to analyst estimates of $417.78 million. During the same period last year, the company posted ($0.05) EPS. Renewable Energy Group’s quarterly revenue was up 49.3% compared to the same quarter last year.
In other news, Director Peter John Martin Harding acquired 5,000 shares of Renewable Energy Group stock in a transaction dated Friday, September 16th. The shares were bought at an average cost of $8.13 per share, with a total value of $40,650.00. Following the purchase, the director now owns 56,637 shares in the company, valued at approximately $460,458.81. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new position in Renewable Energy Group during the second quarter valued at $117,000. Thomson Horstmann & Bryant Inc. increased its position in Renewable Energy Group by 25.9% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 1,300,189 shares of the company’s stock valued at $11,480,000 after buying an additional 267,851 shares during the last quarter. DNB Asset Management AS increased its position in Renewable Energy Group by 2.1% in the second quarter. DNB Asset Management AS now owns 3,326,951 shares of the company’s stock valued at $29,377,000 after buying an additional 68,408 shares during the last quarter. Flagship Ventures Fund 2007 L.P. acquired a new position in Renewable Energy Group during the first quarter valued at $317,000. Finally, Barclays PLC increased its position in Renewable Energy Group by 376.5% in the first quarter. Barclays PLC now owns 109,400 shares of the company’s stock valued at $984,000 after buying an additional 86,441 shares during the last quarter.
Renewable Energy Group Company Profile
Renewable Energy Group, Inc is focused on providing cleaner, lower carbon intensity products and services while also providing conventional products and services. The Company is a producer of biomass-based diesel in the United States. Its segments include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities.
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