Vertex Energy (NASDAQ:VTNR) Coverage Initiated at StockNews.com

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

Separately, Craig Hallum downgraded 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.63.

Vertex Energy Stock Performance

The company has a quick ratio of 0.30, a current ratio of 0.56 and a debt-to-equity ratio of 0.61. Vertex Energy has a 12-month low of $0.05 and a 12-month high of $5.04. The stock’s 50-day simple moving average is $0.33 and its two-hundred day simple moving average is $0.82.

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

Institutional Investors Weigh In On Vertex Energy

Several institutional investors have recently made changes to their positions in the company. Nwam LLC lifted its stake in Vertex Energy by 15.7% in the first quarter. Nwam LLC now owns 649,377 shares of the industrial products company’s stock valued at $942,000 after acquiring an additional 88,000 shares during the last quarter. Ceeto Capital Group LLC lifted its stake in shares of Vertex Energy by 74.3% in the 1st quarter. Ceeto Capital Group LLC now owns 237,000 shares of the industrial products company’s stock valued at $332,000 after purchasing an additional 101,000 shares during the last quarter. XTX Topco Ltd boosted its holdings in Vertex Energy by 89.7% in the second quarter. XTX Topco Ltd now owns 154,284 shares of the industrial products company’s stock worth $146,000 after purchasing an additional 72,958 shares in the last quarter. SummerHaven Investment Management LLC increased its position in Vertex Energy by 11.6% during the second quarter. SummerHaven Investment Management LLC now owns 130,402 shares of the industrial products company’s stock worth $123,000 after buying an additional 13,533 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Vertex Energy during the second quarter valued at about $94,000. 42.99% of the stock is currently owned by institutional investors and hedge funds.

About Vertex Energy

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.