An Overview of Renewable Energy Group
Renewable Energy Group (REG) is a leading global supplier of renewable fuels and renewable chemicals. Founded in 1996, REG offers a full range of products and services, including biodiesel, renewable diesel, and renewable chemicals. The company operates across the United States and has a presence in Canada, Europe, Asia, and Latin America. REG is committed to providing customers with the highest quality renewable fuels and renewable chemicals, as well as a superior customer experience.
Renewable Energy Group Stock Performance in 2020
REG’s stock performance in 2020 was mixed. The stock started the year at $22.30 per share and peaked at $58.90 per share in February. After the market crash in March, the stock bottomed out at $24.30 in April. From there, the stock recovered and traded above $50 for most of the summer months before eventually settling at $51.12 on December 31.
Renewable Energy Group’s 2021 Outlook
As the world continues to shift towards renewable energy sources, REG is well-positioned to benefit. The company is expected to benefit from the increasing demand for renewable fuels and renewable chemicals in the coming year. In addition, the company is expected to capitalize on the growing trend of decarbonization as governments around the world look to reduce their carbon footprint.
Renewable Energy Group Stock Forecast for 2023
Analysts are bullish on the prospects of REG’s stock in 2023. The company is expected to capitalize on the increasing demand for renewable energy sources and benefit from the decarbonization trend. In addition, the company’s financials are expected to remain strong, as the company is expected to generate solid cash flows from its operations. As such, analysts are expecting the stock to reach upwards of $100 per share in 2023.
Risks to the Renewable Energy Group Stock Forecast
The Renewable Energy Group stock forecast for 2023 is subject to a number of risks. The most significant risk is the potential for government regulation to limit the use of renewable fuels and renewable chemicals, which could adversely affect the company’s financials. In addition, the company is exposed to commodity prices, which could have an impact on its bottom line. Finally, the company’s operations are subject to competition from other renewable energy companies, which could put pressure on the company’s market share.
Conclusion
The Renewable Energy Group stock forecast for 2023 is bullish. Analysts are expecting the stock to reach upwards of $100 per share in 2023. While there are risks associated with the stock, such as government regulation and competition, these risks are likely to be outweighed by the potential benefits of the company’s expanding operations. As such, investors should consider adding REG to their portfolios in 2023.