Renewable Energy Group Inc (REGI) Given “Buy” Rating at Canaccord Genuity

Canaccord Genuity restated their buy rating on shares of Renewable Energy Group Inc (NASDAQ:REGI) in a research note published on Wednesday morning. They currently have a $16.00 price objective on the oil and gas company’s stock.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Renewable Energy Group from a hold rating to a strong-buy rating and set a $14.00 target price on the stock in a research note on Tuesday, May 9th. Roth Capital set a $17.00 target price on Renewable Energy Group and gave the company a buy rating in a research note on Wednesday, March 8th.

Shares of Renewable Energy Group (REGI) opened at 12.00 on Wednesday. Renewable Energy Group has a 1-year low of $7.90 and a 1-year high of $12.65. The firm has a 50-day moving average price of $11.47 and a 200-day moving average price of $10.06. The company has a market cap of $463.13 million and a P/E ratio of 13.78.

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In related news, Director Christopher D. Sorrells bought 5,000 shares of Renewable Energy Group stock in a transaction that occurred on Tuesday, May 30th. The shares were purchased at an average price of $11.14 per share, with a total value of $55,700.00. Following the purchase, the director now owns 28,146 shares in the company, valued at $313,546.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Chad Stone bought 3,000 shares of Renewable Energy Group stock in a transaction that occurred on Thursday, May 11th. The stock was bought at an average cost of $11.95 per share, for a total transaction of $35,850.00. Following the purchase, 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.

A number of large investors have recently bought and sold shares of REGI. Denver Investment Advisors LLC bought a new stake in Renewable Energy Group during the first quarter worth about $113,000. O Shaughnessy Asset Management LLC raised its stake in Renewable Energy Group by 155.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 11,754 shares of the oil and gas company’s stock worth $123,000 after buying an additional 7,160 shares during the last quarter. Marshall Wace LLP bought a new stake in Renewable Energy Group during the fourth quarter worth about $129,000. Quotient Investors LLC bought a new stake in Renewable Energy Group during the first quarter worth about $310,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in Renewable Energy Group by 8.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 31,771 shares of the oil and gas company’s stock worth $332,000 after buying an additional 2,486 shares during the last quarter.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:REGI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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