Renewable Energy Group, Inc. (NASDAQ:REGI) is 0.58 points higher today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has climbed by nearly 3.36% to $17.83 from its previous close of $17.25. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 466466 contracts so far this session. REGI shares had a relatively better volume day versus average trading capacity of 723.45 thousand shares, but with a 37.8 million float and a 2.77% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for REGI stock indicates that the average analyst price target is $27.25 per share. This means the stock has a potential increase of 52.83% from where the REGI share price has been trading recently which is between $16.87 and $17.46.
During the recent trading session for Renewable Energy Group, Inc. (NASDAQ:REGI), the company witnessed their stock rise $0.61 over a week and surge $1.14 from the price 20 days ago. When compared to their established 52-week high of $29.61, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 01/02/19. The recent low of $9.9 stood for a -39.77% since 07/08/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.23 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Renewable Energy Group, Inc., the two-week RSI stands at 63.76. This figure suggests that REGI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current REGI readings is similarly very revealing as it has a stochastic reading of 59.09% at this stage. This figure means that REGI share price today is being neutral.
Technical chart claims that Renewable Energy Group, Inc. (REGI) would settle between $17.52/share to $17.78/share level. However, if the stock price goes below the $16.93 mark, then the market for Renewable Energy Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $16.61 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.23. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at H.C. Wainwright, assumed coverage of REGI assigning Buy rating, according to their opinion released on December 03. ROTH Capital analysts bumped their rating on Renewable Energy Group, Inc. (NASDAQ:REGI) stock from Neutral to Buy in a separate flash note issued to investors on June 24. Analysts at ROTH Capital lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to May 03.
REGI equity has an average rating of 2.5, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated Renewable Energy Group, Inc. (NASDAQ:REGI) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, REGI stock price is currently trading at 8.43X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 13.9. Renewable Energy Group, Inc. current P/B ratio of 1.1 means it is trading at a discount against its industry’s 1.7.
Renewable Energy Group, Inc. (REGI)’s current-quarter revenues are projected to climb by nearly -1.8% to hit $506760, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -10.6% from $2.38 billion to a noteworthy $2.13 billion. At the other end of the current quarter income statement, Renewable Energy Group, Inc. is expected to see its adjusted earnings surge by roughly -93.9% to hit $0.02 per share. For the fiscal year, REGI’s earnings are projected to climb by roughly -146.3% to hit $-3 per share.