Vertex Energy, Inc. (NASDAQ:VTNR – Get Free Report)’s stock price dropped 3.7% during trading on Friday after Oppenheimer lowered their price target on the stock from $13.00 to $10.00. Oppenheimer currently has an outperform rating on the stock. Vertex Energy traded as low as $6.26 and last traded at $6.28. Approximately 264,316 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 2,591,024 shares. The stock had previously closed at $6.52.
VTNR has been the subject of a number of other reports. HC Wainwright cut their target price on Vertex Energy from $15.00 to $12.00 in a research note on Thursday, June 8th. StockNews.com lowered Vertex Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.15.
Insiders Place Their Bets
In related news, COO James Gary Rhame acquired 4,000 shares of the stock in a transaction on Friday, May 12th. The shares were purchased at an average price of $6.33 per share, for a total transaction of $25,320.00. Following the purchase, the chief operating officer now directly owns 14,648 shares in the company, valued at $92,721.84. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Benjamin P. Cowart sold 66,666 shares of the business’s stock in a transaction on Wednesday, April 19th. The stock was sold at an average price of $8.00, for a total transaction of $533,328.00. Following the sale, the chief executive officer now owns 5,450,608 shares in the company, valued at approximately $43,604,864. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James Gary Rhame bought 4,000 shares of the business’s stock in a transaction on Friday, May 12th. The shares were bought at an average cost of $6.33 per share, for a total transaction of $25,320.00. Following the completion of the acquisition, the chief operating officer now directly owns 14,648 shares in the company, valued at approximately $92,721.84. The disclosure for this purchase can be found here. Corporate insiders own 11.80% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its stake in Vertex Energy by 190.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,605 shares of the industrial products company’s stock worth $45,000 after buying an additional 3,020 shares during the period. Legal & General Group Plc acquired a new position in Vertex Energy during the 2nd quarter worth approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Vertex Energy during the 4th quarter worth approximately $61,000. IVC Wealth Advisors LLC bought a new stake in Vertex Energy during the 2nd quarter worth approximately $71,000. Finally, Linscomb & Williams Inc. bought a new stake in Vertex Energy during the 4th quarter worth approximately $74,000. 47.72% of the stock is owned by institutional investors and hedge funds.
Vertex Energy Price Performance
The company has a quick ratio of 0.77, a current ratio of 1.47 and a debt-to-equity ratio of 1.00. The firm has a fifty day moving average price of $6.33 and a 200-day moving average price of $7.36.
Vertex Energy (NASDAQ:VTNR – Get Free Report) last posted its quarterly earnings data on Tuesday, May 9th. The industrial products company reported ($0.58) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.77). The firm had revenue of $691.14 million during the quarter, compared to analysts’ expectations of $768.53 million. Vertex Energy had a net margin of 1.57% and a return on equity of 36.41%. Analysts anticipate that Vertex Energy, Inc. will post -0.36 earnings per share for the current fiscal year.
About Vertex Energy
Vertex Energy, Inc, an energy transition company that focuses on the production and distribution of conventional and alternative fuels. It engages in refining and distributing petroleum products comprising the mobile refinery and related operations. The company also sells ferrous and non-ferrous recyclable metal products, and markets Group III base oils and other petroleum-based products, as well as provides transportation and marine salvage services.