Renewable Energy Group, Inc. (NASDAQ:REGI) shares fell 6% during trading on Wednesday . The stock traded as low as $12.38 and last traded at $12.45. 1,721,954 shares traded hands during mid-day trading, an increase of 279% from the average session volume of 454,886 shares. The stock had previously closed at $13.25.

REGI has been the subject of several analyst reports. Roth Capital set a $17.00 target price on Renewable Energy Group and gave the company a “buy” rating in a report on Wednesday, August 23rd. Piper Jaffray Companies set a $13.00 target price on Renewable Energy Group and gave the company a “hold” rating in a report on Wednesday, August 23rd. ValuEngine upgraded Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a report on Friday, July 14th. Canaccord Genuity restated a “buy” rating and issued a $16.00 target price on shares of Renewable Energy Group in a report on Wednesday, June 14th. Finally, Zacks Investment Research cut Renewable Energy Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $15.00.

The stock’s 50 day moving average is $12.02 and its 200 day moving average is $11.42. The company’s market capitalization is $481.68 million.

Renewable Energy Group (NASDAQ:REGI) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.13). Renewable Energy Group had a negative net margin of 0.36% and a positive return on equity of 6.20%. The firm had revenue of $535.10 million for the quarter, compared to analysts’ expectations of $531.88 million. During the same period last year, the firm posted $0.18 EPS. Renewable Energy Group’s revenue was down 4.2% on a year-over-year basis. On average, equities analysts anticipate that Renewable Energy Group, Inc. will post ($1.56) earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of REGI. Northern Trust Corp boosted its position 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 buying an additional 366,009 shares during the period. Formula Growth Ltd. boosted its position 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 buying an additional 357,000 shares during the period. Chicago Equity Partners LLC purchased a new stake in shares of Renewable Energy Group in the second quarter worth about $3,487,000. Prudential Financial Inc. purchased a new stake in shares of Renewable Energy Group in the second quarter worth about $3,340,000. Finally, Systematic Financial Management LP boosted its position in shares of Renewable Energy Group by 114.9% in the second quarter. Systematic Financial Management LP now owns 368,495 shares of the oil and gas company’s stock worth $4,772,000 after buying an additional 197,005 shares during the period.

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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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