BidaskClub Lowers Renewable Energy Group (REGI) to Strong Sell

BidaskClub downgraded shares of Renewable Energy Group (NASDAQ:REGI) from a sell rating to a strong sell rating in a research report report published on Thursday morning.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research raised Renewable Energy Group from a sell rating to a hold rating in a research note on Thursday, January 4th. Piper Jaffray Companies reissued a hold rating and set a $13.00 target price on shares of Renewable Energy Group in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $15.33.

Renewable Energy Group (NASDAQ REGI) traded up $0.15 on Thursday, hitting $11.05. The stock had a trading volume of 236,215 shares, compared to its average volume of 306,849. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.37. Renewable Energy Group has a 52-week low of $8.25 and a 52-week high of $13.55. The stock has a market capitalization of $427.51, a PE ratio of 368.33, a PEG ratio of 0.38 and a beta of 1.48.

Renewable Energy Group (NASDAQ:REGI) last posted its earnings results on Tuesday, November 7th. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.11. Renewable Energy Group had a positive return on equity of 0.38% and a negative net margin of 1.96%. The firm had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $513.88 million. During the same period in the previous year, the firm earned $0.59 earnings per share. The business’s revenue was up .4% compared to the same quarter last year. analysts forecast that Renewable Energy Group will post -1.63 earnings per share for the current fiscal year.

Renewable Energy Group announced that its Board of Directors has authorized a stock buyback program on Thursday, December 14th that permits the company to repurchase $75.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

In other news, Director Peter John Martin Harding purchased 5,000 shares of Renewable Energy Group stock in a transaction that occurred on Friday, December 15th. The shares were bought at an average cost of $11.14 per share, with a total value of $55,700.00. Following the completion of the purchase, the director now directly owns 64,136 shares in the company, valued at $714,475.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.54% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of REGI. Rubric Capital Management LP grew its stake in Renewable Energy Group by 512.6% in the third quarter. Rubric Capital Management LP now owns 892,068 shares of the oil and gas company’s stock worth $10,839,000 after purchasing an additional 746,444 shares during the period. Northern Trust Corp grew its stake in shares of Renewable Energy Group by 82.3% in the second quarter. Northern Trust Corp now owns 810,886 shares of the oil and gas company’s stock worth $10,501,000 after acquiring an additional 366,009 shares during the last quarter. Formula Growth Ltd. grew its stake in shares of Renewable Energy Group by 87.4% in the second quarter. Formula Growth Ltd. now owns 765,595 shares of the oil and gas company’s stock worth $9,914,000 after acquiring an additional 357,000 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Renewable Energy Group in the second quarter worth $3,340,000. Finally, New York State Common Retirement Fund grew its stake in shares of Renewable Energy Group by 389.2% in the second quarter. New York State Common Retirement Fund now owns 240,235 shares of the oil and gas company’s stock worth $3,111,000 after acquiring an additional 191,124 shares during the last quarter.

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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.

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