Renewable Energy Group, Inc. (NASDAQ:REGI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “Renewable Energy Group, Inc. produces and sells biofuels and renewable chemicals in the U.S. It operates through Biomass-Based Diesel, Services, Renewable Chemicals, and Corporate and Other segments. It produces biomass-based diesel from a range of feedstocks, including inedible corn oil, used cooking oil, soybean oil, canola oil, and inedible animal fat. This segment is also involved in the purchase and resale of biomass-based diesel, petroleum-based diesel, renewable identification numbers, and raw material feedstocks acquired from third parties; and sale of glycerin, free fatty acids, naphtha, and other co-products of the biomass-based diesel production process. The Services segment provides facility management and operational services to biomass-based diesel production facilities, as well as to other clean-tech companies. This segment also offers construction management services for biomass-based diesel production facilities. REG is committed to being a long-term leader in bio-based fuel and chemicals. “

REGI has been the subject of several other reports. 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. BidaskClub lowered Renewable Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. ValuEngine lowered Renewable Energy Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $15.33.

Shares of Renewable Energy Group (NASDAQ REGI) opened at 12.10 on Friday. The firm’s 50-day moving average price is $12.26 and its 200 day moving average price is $11.82. Renewable Energy Group has a 52 week low of $8.10 and a 52 week high of $13.55. The firm’s market capitalization is $468.14 million.

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

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in Renewable Energy Group by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,248,793 shares of the oil and gas company’s stock valued at $42,072,000 after buying an additional 59,691 shares in the last quarter. Vanguard Group Inc. raised its holdings in Renewable Energy Group by 1.9% during the second quarter. Vanguard Group Inc. now owns 1,803,817 shares of the oil and gas company’s stock valued at $23,360,000 after buying an additional 33,121 shares in the last quarter. State Street Corp raised its holdings in Renewable Energy Group by 11.8% during the second quarter. State Street Corp now owns 887,932 shares of the oil and gas company’s stock valued at $11,496,000 after buying an additional 94,037 shares in the last quarter. Northern Trust Corp raised its holdings in Renewable Energy Group by 82.3% during the second quarter. Northern Trust Corp now owns 810,886 shares of the oil and gas company’s stock valued at $10,501,000 after buying an additional 366,009 shares in the last quarter. Finally, Formula Growth Ltd. raised its holdings in Renewable Energy Group by 87.4% during the second quarter. Formula Growth Ltd. now owns 765,595 shares of the oil and gas company’s stock valued at $9,914,000 after buying an additional 357,000 shares in 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.

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