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Renewable Energy Group (REGI) Stock Jumps 26%: Will It Continue to Soar?

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Renewable Energy Group (REGI) shares ended the last trading session 26% higher at $41.11. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 19.3% loss over the past four weeks.

Per major news sources, including Bloomberg, there is a possibility of Renewable Energy Group getting acquired. The company has been in takeover talks lately with large oil and gas companies. This news must have resulted in the recent share price surge for Renewable Energy Group.

This biodiesel producer is expected to post quarterly earnings of $0.83 per share in its upcoming report, which represents a year-over-year change of +38.3%. Revenues are expected to be $833.17 million, up 52.1% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Renewable Energy Group, the consensus EPS estimate for the quarter has been revised 16.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on REGI going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Renewable Energy Group is part of the Zacks Biofuels industry. Aemetis (AMTX), another stock in the same industry, closed the last trading session 3.9% higher at $9.42. AMTX has returned 1% in the past month.

For Aemetis , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.27. This represents a change of +60.3% from what the company reported a year ago. Aemetis currently has a Zacks Rank of #4 (Sell).


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