Is Renewable Energy Group Inc (REGI) A Good Stock To Buy?

Judging by the fact that Renewable Energy Group Inc (NASDAQ:REGI) has faced falling interest from the entirety of the hedge funds we track, logic holds that there were a few fund managers that elected to cut their entire stakes heading into Q4. Intriguingly, Steve Cohen’s Point72 Asset Management sold off the biggest investment of all the investors watched by Insider Monkey, comprising an estimated $8.7 million in stock, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital was right behind this move, as the fund dropped about $0.5 million worth of shares.

Let’s check out hedge fund activity in other stocks similar to Renewable Energy Group Inc (NASDAQ:REGI). We will take a look at Xactly Corp (NYSE:XTLY), Cryolife Inc (NYSE:CRY), NACCO Industries, Inc. (NYSE:NC), and Castlight Health Inc (NYSE:CSLT). This group of stocks’ market valuations match REGI’s market valuation.

As you can see these stocks had an average of 12 hedge funds with bullish positions and the average amount invested in these stocks was $28 million. That figure was $54 million in REGI’s case. Cryolife Inc (NYSE:CRY) is the most popular stock in this table. On the other hand NACCO Industries, Inc. (NYSE:NC) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Renewable Energy Group Inc (NASDAQ:REGI) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.