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Renewable Energy Scales 52-Week High On Acquisition

Renewable energy provider, Renewable Energy Group, Inc. (REGI - Free Report) touched a new 52-week high of $13.39, eventually closing at a tad lower at $13.10 on Jul 3. The stock has delivered a one-year return of about 46.2% compared with the Zacks categorized Biofuels industry’s gain of 30.6%.

In the last 52 weeks, Renewable Energy‘s share price has ranged from a low of $7.91 to a high of $13.39. Average volume of shares traded in the last three months is approximately 411.87 thousand.

Why is Renewable Energy on the Rise?

Renewable Energy has been a steady performer, having delivered an average surprise of 13.39% in the trailing four quarters. Thanks to its solid performance, the company’s long-term earnings growth is currently pegged at 15.0%.

Last month, the renewable energy provider announced that it had purchased approximately 82 acres of land for an agreed sum of $20.0 million from Lion Copolymer. The land includes the company’s Geismar biorefinery...


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