Covalis Capital LLP Acquires Shares of 115,000 Renewable Energy Group Inc (NASDAQ:REGI)

Covalis Capital LLP acquired a new stake in Renewable Energy Group Inc (NASDAQ:REGI) in the second quarter, HoldingsChannel.com reports. The fund acquired 115,000 shares of the oil and gas company’s stock, valued at approximately $1,824,000. Renewable Energy Group comprises about 1.2% of Covalis Capital LLP’s holdings, making the stock its 10th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Royce & Associates LP acquired a new stake in shares of Renewable Energy Group during the 1st quarter worth approximately $38,000. Tower Research Capital LLC TRC increased its holdings in shares of Renewable Energy Group by 4,539.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,923 shares of the oil and gas company’s stock worth $46,000 after buying an additional 2,860 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Renewable Energy Group by 7.6% during the 1st quarter. SG Americas Securities LLC now owns 8,657 shares of the oil and gas company’s stock worth $190,000 after buying an additional 613 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Renewable Energy Group during the 1st quarter worth approximately $198,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Renewable Energy Group during the 1st quarter worth approximately $205,000.

Shares of NASDAQ:REGI traded down $0.29 during mid-day trading on Wednesday, reaching $14.74. 16,418 shares of the company were exchanged, compared to its average volume of 985,039. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.14 and a quick ratio of 0.58. The firm has a market cap of $619.04 million, a price-to-earnings ratio of 2.15 and a beta of 1.21. The firm’s 50-day simple moving average is $12.77 and its 200 day simple moving average is $17.39. Renewable Energy Group Inc has a 1 year low of $9.90 and a 1 year high of $32.52.

Renewable Energy Group (NASDAQ:REGI) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($1.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.92). The company had revenue of $560.64 million for the quarter, compared to analysts’ expectations of $572.93 million. Renewable Energy Group had a negative return on equity of 5.90% and a negative net margin of 2.88%. On average, research analysts forecast that Renewable Energy Group Inc will post -2.24 earnings per share for the current fiscal year.

REGI has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Renewable Energy Group from a “sell” rating to a “hold” rating in a report on Saturday, September 7th. Roth Capital upgraded shares of Renewable Energy Group from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a report on Monday, June 24th. Zacks Investment Research downgraded shares of Renewable Energy Group from a “hold” rating to a “strong sell” rating in a report on Wednesday. ValuEngine upgraded shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 10th. Finally, BWS Financial restated a “buy” rating on shares of Renewable Energy Group in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Renewable Energy Group presently has a consensus rating of “Buy” and an average price target of $29.75.

About Renewable Energy Group

Renewable Energy Group, Inc produces cleaner and lower carbon transportation fuels. The company utilizes an integrated production, distribution, and logistics system to convert natural fats, oils, and greases into advanced biofuels. It operates through Biomass-Based Diesel, Services, and Corporate and Other segments.

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Institutional Ownership by Quarter for Renewable Energy Group (NASDAQ:REGI)

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