Renewable Energy Group, Inc. (REGI), a company providing low carbon transportation fuels across the globe, has rocketed 36.91% in the premarket trading session. As a result, the stock was trading at $59.98 when last checked. The stock gained a slight increase of 1.74% during Friday’s regular trading session to close the day at $43.81. The tremendous rise in aftermarket could be attributed to rumours regarding the company’s deal with Chevron.
REGI Acquisition by Chevron?
On Friday, rumours started circulating that Chevron, a multinational energy corporation and a giant in the energy industry has been in talks with Renewable Energy Group to buy the company. As soon as the news came out, REGI stock skyrocketed and surged as high as 36% during the postmarket trading session. Chevron is said to have discussed paying $61.50 per share to the company. The deal between the two is expected to be announced next week.
When Would Q4 and FY 2021 Results be Announced?
On 22nd February, REGI announced that it would release the Q4 and FY 2021results before the opening of the market on 1st of March 2022. The company also announced to host an investor conference call on the same day. The Chief Executive Officer of company Cynthia (CJ) Warner, Chief Financial Officer Craig Bealmear and Deputy Chief Financial Officer and Treasurer Todd Robinson would jointly host the call.
Installation of Pretreatment Facility
On 17th February, REGI announced the installation of a pretreatment facility in Germany. The project would serve to enable the company to refine some of the lowest carbon intensity, as well as most difficult to convert waste fats and oils for the production of diesel which is based upon the biological components. The project lies at the border of the Netherlands, on the North Sea harbour of Emden, Germany.
What’s Ahead for REGI?
Looking ahead, analysts are of the view that the short-term indicators are green for the REGI stock. Hence, at the current level, the stock should be considered an excellent candidate for buying as it is expected to perform well in the upcoming few weeks.