Somewhat Favorable News Coverage Somewhat Unlikely to Affect Renewable Energy Group (NASDAQ:REGI) Share Price
Press coverage about Renewable Energy Group (NASDAQ:REGI) has been trending somewhat positive on Friday, according to Accern. The research group scores the sentiment of media coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Renewable Energy Group earned a news impact score of 0.11 on Accern’s scale. Accern also assigned news headlines about the oil and gas company an impact score of 44.0229058514565 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Here are some of the news articles that may have impacted Accern Sentiment’s rankings:
- Renewable Energy Group Announces Changes to Board of Directors (feeds.benzinga.com)
- Renewable Energy Group (REGI) Rating Increased to Strong-Buy at Zacks Investment Research (americanbankingnews.com)
- Renewable Energy (REGI) Presents At 30th Annual ROTH Conference – Slideshow (seekingalpha.com)
- Two Strong-Buy Renewable Energy Stocks to Consider Now (finance.yahoo.com)
- Insider Buying: Renewable Energy Group Inc (REGI) Director Acquires 20,000 Shares of Stock (americanbankingnews.com)
REGI has been the subject of several recent research reports. BidaskClub raised Renewable Energy Group from a “sell” rating to a “hold” rating in a research report on Thursday, December 7th. Zacks Investment Research downgraded Renewable Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 28th. Finally, Canaccord Genuity reissued a “buy” rating and set a $16.00 price target on shares of Renewable Energy Group in a research report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $14.75.
Renewable Energy Group announced that its board has initiated a stock repurchase program on Thursday, December 14th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the oil and gas company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other Renewable Energy Group news, Director Peter John Martin Harding acquired 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were acquired at an average price of $10.94 per share, for a total transaction of $218,800.00. Following the completion of the acquisition, the director now directly owns 73,592 shares of the company’s stock, valued at $805,096.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.54% of the stock is owned by company insiders.
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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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