Vertex (NASDAQ:VERX) Shares Gap Up – What’s Next?

Vertex, Inc. (NASDAQ:VERX) gapped up before the market opened on Tuesday . The stock had previously closed at $10.58, but opened at $11.00. Vertex shares last traded at $10.7520, with a volume of 91,061 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Vertex from $14.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Citigroup increased their price objective on Vertex from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Jefferies Financial Group set a $14.00 target price on Vertex in a report on Saturday, May 9th. Needham & Company LLC reaffirmed a “buy” rating on shares of Vertex in a research report on Monday, June 8th. Finally, Weiss Ratings downgraded Vertex from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.93.

Vertex Trading Down 0.3%

The company has a debt-to-equity ratio of 1.37, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s fifty day moving average is $12.68 and its two-hundred day moving average is $15.06. The firm has a market capitalization of $1.71 billion, a PE ratio of -211.60 and a beta of 0.82.

Vertex (NASDAQ:VERX) last posted 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. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The firm had revenue of $196.65 million during the quarter, compared to analyst estimates of $194.82 million. During the same quarter last year, the business posted $0.15 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities analysts predict that Vertex, Inc. will post 0.52 EPS for the current fiscal year.

Institutional Trading of Vertex

Hedge funds have recently bought and sold shares of the business. Quantinno Capital Management LP boosted its position in Vertex by 275.2% in the first quarter. Quantinno Capital Management LP now owns 141,793 shares of the company’s stock worth $1,686,000 after purchasing an additional 104,006 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Vertex during the 1st quarter valued at $37,796,000. Renaissance Technologies LLC raised its position in Vertex by 8.1% in the first quarter. Renaissance Technologies LLC now owns 290,500 shares of the company’s stock worth $3,454,000 after acquiring an additional 21,700 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Vertex by 1,906.8% in the first 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. Finally, Caxton Associates LLP bought a new position in shares of Vertex during the 1st quarter valued at approximately $132,000. 70.32% of the stock is currently owned by institutional investors.

Vertex Company Profile

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.