Vertex (NASDAQ:VERX) Trading Up 4.5% – What’s Next?

Vertex, Inc. (NASDAQ:VERX) shares were up 4.5% during trading on Friday . The stock traded as high as $12.93 and last traded at $12.94. Approximately 91,125 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 1,904,479 shares. The stock had previously closed at $12.38.

Analyst Ratings Changes

Several analysts have commented on VERX shares. DA Davidson set a $15.00 price target on Vertex in a report on Friday, May 8th. Weiss Ratings cut Vertex from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday. Jefferies Financial Group set a $14.00 price target on Vertex in a report on Saturday, May 9th. Citigroup lifted their price target on Vertex from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Needham & Company LLC lowered their price target on Vertex from $30.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.93.

Vertex Stock Performance

The stock has a 50-day simple moving average of $12.78 and a 200-day simple moving average of $16.54. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -257.90 and a beta of 0.81. 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 announced its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $196.65 million for the quarter, compared to analyst estimates of $194.82 million. During the same period in the prior year, the company posted $0.15 EPS. Vertex’s quarterly revenue was up 11.1% on a year-over-year basis. On average, analysts anticipate that Vertex, Inc. will post 0.48 earnings per share for the current year.

Insider Buying and Selling

In other Vertex news, insider Jeffrey Westphal bought 150,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were bought at an average cost of $12.53 per share, with a total value of $1,879,500.00. Following the transaction, the insider directly owned 397,740 shares in the company, valued at approximately $4,983,682.20. This trade represents a 60.55% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eric C. Andersen bought 40,000 shares of the business’s stock in a transaction on Friday, February 20th. The stock was acquired at an average cost of $12.91 per share, for a total transaction of $516,400.00. Following the completion of the transaction, the director owned 150,341 shares in the company, valued at $1,940,902.31. This represents a 36.25% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 43.25% of the company’s stock.

Institutional Investors Weigh In On Vertex

A number of institutional investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Vertex in the 1st quarter valued at approximately $37,796,000. Renaissance Technologies LLC increased its holdings in shares of Vertex by 8.1% in the 1st quarter. Renaissance Technologies LLC now owns 290,500 shares of the company’s stock valued at $3,454,000 after acquiring an additional 21,700 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Vertex by 1,906.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 935,668 shares of the company’s stock valued at $11,125,000 after acquiring an additional 889,042 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Vertex in the 1st quarter valued at approximately $132,000. Finally, Cetera Investment Advisers increased its holdings in shares of Vertex by 20.5% in the 1st quarter. Cetera Investment Advisers now owns 34,150 shares of the company’s stock valued at $406,000 after acquiring an additional 5,814 shares during 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.