Vertex (NASDAQ:VERX) Shares Gap Up – Time to Buy?

Shares of Vertex, Inc. (NASDAQ:VERX) gapped up prior to trading on Monday . The stock had previously closed at $11.37, but opened at $12.06. Vertex shares last traded at $11.9410, with a volume of 211,546 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently commented on VERX shares. Morgan Stanley reaffirmed an “overweight” rating and set a $19.00 target price on shares of Vertex in a report on Friday, May 8th. Wall Street Zen downgraded Vertex from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. BMO Capital Markets upped their price objective on Vertex from $14.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $21.00 target price on shares of Vertex in a report on Thursday, May 7th. Finally, DA Davidson set a $15.00 target price on shares of Vertex in a research note on Friday, May 8th. Eight 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.47.

Vertex Stock Up 0.7%

The company has a market cap of $1.86 billion, a price-to-earnings ratio of -229.60 and a beta of 0.82. The business has a fifty day moving average of $12.61 and a two-hundred day moving average of $14.70. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

Vertex (NASDAQ:VERX) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $196.65 million for the quarter, compared to analyst estimates of $194.82 million. Vertex had a positive return on equity of 26.04% and a negative net margin of 0.84%.Vertex’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. As a group, equities analysts anticipate that Vertex, Inc. will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Vertex

A number of large investors have recently added to or reduced their stakes in VERX. Advisors Asset Management Inc. grew its position in shares of Vertex by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after purchasing an additional 395 shares during the period. Victory Capital Management Inc. raised its position in shares of Vertex by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 8,354 shares of the company’s stock worth $207,000 after purchasing an additional 753 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Vertex by 1.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,056 shares of the company’s stock valued at $2,933,000 after buying an additional 1,121 shares in the last quarter. Assetmark Inc. lifted its stake in Vertex by 49.1% in the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock valued at $83,000 after buying an additional 1,376 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Vertex by 2.2% in the 2nd quarter. California State Teachers Retirement System now owns 63,009 shares of the company’s stock worth $2,226,000 after buying an additional 1,383 shares during the last quarter. 70.32% of the stock is currently owned by institutional investors and hedge funds.

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.