StockNews.com Initiates Coverage on Vertex Energy (NASDAQ:VTNR)

Equities researchers at StockNews.com started coverage on shares of Vertex Energy (NASDAQ:VTNR) in a note issued to investors on Wednesday. The brokerage set a “sell” rating on the industrial products company’s stock.

Separately, Craig Hallum cut shares of Vertex Energy from a “buy” rating to a “hold” rating and set a $1.00 target price on the stock. in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.63.

Vertex Energy Stock Performance

Shares of VTNR stock opened at $0.38 on Wednesday. The company’s fifty day moving average price is $0.58 and its 200-day moving average price is $0.95. Vertex Energy has a 12 month low of $0.30 and a 12 month high of $5.19. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.30 and a current ratio of 0.56.

Vertex Energy (NASDAQ:VTNR) last issued its earnings results on Thursday, August 8th. The industrial products company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.48). Vertex Energy had a negative return on equity of 58.04% and a negative net margin of 3.61%. The business had revenue of $750.06 million during the quarter, compared to analysts’ expectations of $729.29 million. During the same period last year, the firm posted ($0.55) EPS. Equities analysts expect that Vertex Energy will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. purchased a new stake in Vertex Energy in the 4th quarter valued at $38,000. RPO LLC acquired a new stake in shares of Vertex Energy during the 4th quarter worth about $75,000. Oracle Investment Management Inc. raised its position in shares of Vertex Energy by 97.6% during the 4th quarter. Oracle Investment Management Inc. now owns 50,000 shares of the industrial products company’s stock worth $170,000 after acquiring an additional 24,700 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Vertex Energy in the 4th quarter valued at approximately $1,092,000. Finally, Willis Johnson & Associates Inc. purchased a new position in shares of Vertex Energy in the 1st quarter valued at approximately $28,000. 42.99% of the stock is owned by institutional investors and hedge funds.

Vertex Energy Company Profile

Vertex Energy, Inc, an energy transition company, that focuses on the production and distribution of conventional and alternative fuels. The company engages in refining and distributing petroleum products comprising the mobile refinery and related operations. It 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.