Stock Alert: Renewable Energy Loses 15% On Reduced Outlook

(RTTNews) - Shares of Renewable Energy Group, Inc. (REGI) are down more than 15% Wednesday morning after the company cut its second-quarter earnings outlook.

Renewable Energy currently now expects adjusted EBITDA in the second quarter to be between negative $12 million and negative $2 million compared with its previous view of $20 million to $35 million.

Inadvertent calculation errors, volatile markets during the second quarter with industry margins first dropping and then showing signs of recovery, are cited to be the reasons for guidance revision.

REGI is currently trading at $24.30. It has traded in the range of $9.90- $32.89 in the past 52 weeks.