Dallas, Texas 07/12/2013 (Financialstrend) – Renewable Energy Group (NASDAQ:REGI), a producer of North American biodiesel, on Thursday announced that on July 30, 2013 the company will be releasing its second quarter 2013 financial results. The company has also arranged for a conference call for the investors in the evening on the same day. The stock of Renewable Energy Group (NASDAQ:REGI) was previously rated as overweight by analyst Piper Jaffray at Zacks, before been eventually downgraded. Several other analysts downgraded the stock from “outperform” to “neutral”, six have assigned a “buy” rating and two a “hold”.
Mr. Jaffray maintained that Renewable Energy Group (NASDAQ:REGI) will utilize its balance sheet to expand capacity of production and/or carry on strategic acquisitions and it is well positioned to deploy internally generated cash. Renewable Energy Group, Inc. has recently completed a technology upgrade in its 30 MMgy biodiesel refinery located in southern Minnesota, valued at $21 million. All biodiesel produced in the refinery met the REG-9000 quality specifications of the company and was achieved within days of its start-up. The company’s standards exceed the industry’s ASTM D6751 B100 standard.
Renewable Energy Group (NASDAQ:REGI) closed at $14.01 on Thursday, recording a decline of 4.82% in the share price for the day. The stock price fluctuated from a low value of $13.19 to a high one of $14.99 per share. The company currently has a 52-week low of $4.28 and a 52-week high of $15.71 per share.
Renewable Energy Group (NASDAQ:REGI) currently has 30.65 million outstanding shares in the market with institutional ownership of 40% of its total equity capital. Trading volume stood at 1.66 million shares on Thursday, with an average one of 429.39 million shares per day.