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

StockNews.com assumed coverage on shares of Vertex Energy (NASDAQ:VTNR) in a report published on Sunday morning. The brokerage issued a sell rating on the industrial products company’s stock.

Separately, Craig Hallum cut Vertex Energy from a “buy” rating to a “hold” rating and set a $1.00 target price on the stock. in a report on Friday, August 9th. One 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.63.

Vertex Energy Price Performance

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 has a twelve month low of $0.05 and a twelve month high of $5.04. The firm has a fifty day simple moving average of $0.36 and a 200 day simple moving average of $0.84.

Vertex Energy (NASDAQ:VTNR) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted ($0.55) EPS.

Institutional Trading of Vertex Energy

A number of hedge funds have recently added to or reduced their stakes in VTNR. Nwam LLC increased its stake in Vertex Energy by 15.7% during the first quarter. Nwam LLC now owns 649,377 shares of the industrial products company’s stock worth $942,000 after acquiring an additional 88,000 shares during the last quarter. Hennessy Advisors Inc. grew its stake in Vertex Energy by 44.0% during the 1st quarter. Hennessy Advisors Inc. now owns 463,800 shares of the industrial products company’s stock valued at $649,000 after purchasing an additional 141,700 shares in the last quarter. Ceeto Capital Group LLC increased its holdings in Vertex Energy by 74.3% during the 1st quarter. Ceeto Capital Group LLC now owns 237,000 shares of the industrial products company’s stock worth $332,000 after purchasing an additional 101,000 shares during the last quarter. XTX Topco Ltd raised its position in shares of Vertex Energy by 89.7% in the 2nd quarter. XTX Topco Ltd now owns 154,284 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 72,958 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its stake in shares of Vertex Energy by 11.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 130,402 shares of the industrial products company’s stock valued at $123,000 after buying an additional 13,533 shares during the last quarter. 42.99% of the stock is 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.