Vertex, Inc. (NASDAQ:VERX – Get Free Report)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $10.41 and last traded at $10.3650, with a volume of 498914 shares trading hands. The stock had previously closed at $11.12.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Jefferies Financial Group set a $14.00 price objective on Vertex in a research report on Saturday, May 9th. DA Davidson set a $15.00 price target on Vertex in a research report on Friday, May 8th. The Goldman Sachs Group reissued a “buy” rating and set a $21.00 price target on shares of Vertex in a report on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $19.00 price objective on shares of Vertex in a report on Friday, May 8th. Finally, Weiss Ratings lowered shares of Vertex from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.93.
Read Our Latest Research Report on VERX
Vertex Stock Down 7.1%
Vertex (NASDAQ:VERX – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Vertex had a positive return on equity of 26.04% and a negative net margin of 0.84%.The business had revenue of $196.65 million during the quarter, compared to analysts’ expectations of $194.82 million. During the same quarter last year, the business posted $0.15 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts expect that Vertex, Inc. will post 0.52 earnings per share for the current fiscal year.
Institutional Trading of Vertex
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Vertex during the first quarter valued at about $37,796,000. Wasatch Advisors LP purchased a new position in shares of Vertex in the second quarter worth approximately $88,293,000. Legacy Advisors LLC raised its holdings in shares of Vertex by 2,730.1% during the third quarter. Legacy Advisors LLC now owns 1,343,779 shares of the company’s stock valued at $33,312,000 after acquiring an additional 1,296,297 shares during the period. Park West Asset Management LLC acquired a new stake in shares of Vertex during the third quarter valued at approximately $30,988,000. Finally, Wellington Management Group LLP lifted its position in shares of Vertex by 76.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock valued at $53,584,000 after acquiring an additional 937,905 shares in the last quarter. 70.32% of the stock is currently owned by institutional investors.
About Vertex
Vertex Energy, Inc (NASDAQ: VERX) is a specialty refiner and marketer of transportation fuels and petrochemical feedstocks in the United States. The company collects and processes a variety of waste petroleum products, including used motor oil and industrial lubricants, which it converts into ultra-low-sulfur diesel, asphalt, and other refined products. By leveraging proprietary re-refining technologies and strategic feedstock sourcing, Vertex Energy aims to deliver cost-effective, lower-carbon fuel solutions to wholesale and retail customers across the country.
Headquartered in Houston, Texas, Vertex operates a network of refining and blending facilities in key regions, including the Central, Northeast and Mid-Atlantic markets.
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