Renewable Energy Group Inc (NASDAQ:REGI) hit a new 52-week high and low during trading on Thursday . The company traded as low as $14.10 and last traded at $13.88, with a volume of 911581 shares trading hands. The stock had previously closed at $13.20.
A number of equities research analysts recently commented on the stock. BidaskClub raised shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. ValuEngine cut shares of Renewable Energy Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Zacks Investment Research cut shares of Renewable Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 28th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $14.75.
The company has a market cap of $512.89, a P/E ratio of -6.76 and a beta of 1.00. The company has a current ratio of 1.74, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37.
Renewable Energy Group announced that its Board of Directors has approved a share buyback plan on Thursday, December 14th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In other Renewable Energy Group news, Director Delbert Christensen acquired 7,441 shares of the stock in a transaction that occurred on Friday, March 16th. The shares were purchased at an average cost of $11.60 per share, with a total value of $86,315.60. Following the purchase, the director now owns 68,756 shares in the company, valued at $797,569.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter John Martin Harding acquired 20,000 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was acquired at an average cost of $10.94 per share, for a total transaction of $218,800.00. Following the completion of the purchase, the director now owns 73,592 shares in the company, valued at approximately $805,096.48. The disclosure for this purchase can be found here. 1.54% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in REGI. Rubric Capital Management LP lifted its holdings in Renewable Energy Group by 512.6% in the 3rd quarter. Rubric Capital Management LP now owns 892,068 shares of the oil and gas company’s stock valued at $10,839,000 after purchasing an additional 746,444 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in Renewable Energy Group by 890.2% in the 4th quarter. Allianz Asset Management GmbH now owns 203,043 shares of the oil and gas company’s stock valued at $2,396,000 after purchasing an additional 182,538 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Renewable Energy Group by 102.3% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 350,332 shares of the oil and gas company’s stock valued at $4,134,000 after purchasing an additional 177,162 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in Renewable Energy Group by 114.0% in the 3rd quarter. Nationwide Fund Advisors now owns 260,294 shares of the oil and gas company’s stock valued at $3,163,000 after purchasing an additional 138,674 shares in the last quarter. Finally, DnB Asset Management AS lifted its holdings in Renewable Energy Group by 4.7% in the 4th quarter. DnB Asset Management AS now owns 2,626,745 shares of the oil and gas company’s stock valued at $30,996,000 after purchasing an additional 118,653 shares in 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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