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

StockNews.com initiated coverage on shares of Vertex Energy (NASDAQ:VTNR) in a research note issued to investors on Tuesday. The firm issued a sell rating on the industrial products company’s stock.

Separately, Craig Hallum lowered shares of Vertex Energy from a buy rating to a hold rating and set a $1.00 price target for the company. in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Vertex Energy presently has a consensus rating of Hold and an average target price of $2.63.

Vertex Energy Price Performance

VTNR stock opened at $0.40 on Tuesday. The firm has a 50 day moving average of $0.60 and a 200 day moving average of $0.98. The company has a current ratio of 0.56, a quick ratio of 0.30 and a debt-to-equity ratio of 0.61. Vertex Energy has a 52 week low of $0.30 and a 52 week high of $5.31.

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

Hedge Funds Weigh In On Vertex Energy

Several institutional investors have recently made changes to their positions in VTNR. Victory Capital Management Inc. purchased a new position in shares of Vertex Energy during the 4th quarter valued at approximately $38,000. Versor Investments LP purchased a new position in shares of Vertex Energy during the 4th quarter valued at approximately $161,000. First Eagle Investment Management LLC increased its holdings in shares of Vertex Energy by 27.8% during the 4th quarter. First Eagle Investment Management LLC now owns 867,801 shares of the industrial products company’s stock valued at $2,942,000 after purchasing an additional 188,811 shares in the last quarter. RPO LLC purchased a new position in shares of Vertex Energy during the 4th quarter valued at approximately $75,000. Finally, Oracle Investment Management Inc. increased its holdings 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 valued at $170,000 after purchasing an additional 24,700 shares in the last quarter. 42.99% of the stock is owned by hedge funds and other institutional investors.

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.