Vertex Energy (NASDAQ:VTNR – Get Rating) was downgraded by equities research analysts at Oppenheimer from an "outperform" rating to a "market perform" rating in a note issued to investors on Wednesday, The Fly reports.
Several other equities analysts have also recently issued reports on VTNR. Stifel Nicolaus upped their price objective on Vertex Energy from $14.00 to $20.00 in a research report on Wednesday, June 8th. Credit Suisse Group upped their price objective on Vertex Energy to $21.50 in a research report on Thursday, June 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.50.
Get Vertex Energy alerts:Vertex Energy Stock Performance
Vertex Energy stock opened at $7.05 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.87 and a current ratio of 4.10. The stock's 50 day moving average is $12.23 and its 200 day moving average is $9.90. Vertex Energy has a twelve month low of $3.30 and a twelve month high of $18.10.
Vertex Energy (NASDAQ:VTNR – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.22. The business had revenue of $40.22 million during the quarter, compared to the consensus estimate of $63.63 million. As a group, sell-side analysts predict that Vertex Energy will post 3.25 earnings per share for the current fiscal year.Insider Activity
In related news, CEO Benjamin P. Cowart sold 71,132 shares of Vertex Energy stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $11.33, for a total transaction of $805,925.56. Following the transaction, the chief executive officer now directly owns 476,252 shares in the company, valued at $5,395,935.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Benjamin P. Cowart sold 71,132 shares of the firm's stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $11.33, for a total value of $805,925.56. Following the transaction, the chief executive officer now owns 476,252 shares of the company's stock, valued at $5,395,935.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David L. Phillips sold 33,207 shares of the business's stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $15.50, for a total value of $514,708.50. Following the transaction, the director now owns 96,621 shares of the company's stock, valued at $1,497,625.50. The disclosure for this sale can be found here. Insiders have sold 175,472 shares of company stock valued at $2,058,995 in the last ninety days. 15.90% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in VTNR. FNY Investment Advisers LLC bought a new position in shares of Vertex Energy during the 1st quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. bought a new position in shares of Vertex Energy during the 2nd quarter valued at approximately $26,000. Investors Asset Management of Georgia Inc. GA ADV bought a new position in shares of Vertex Energy during the 2nd quarter valued at approximately $27,000. Saltoro Capital LP purchased a new position in Vertex Energy in the 4th quarter worth approximately $61,000. Finally, Bank of America Corp DE purchased a new position in Vertex Energy in the 1st quarter worth approximately $85,000. 48.16% of the stock is currently owned by institutional investors.
About Vertex Energy
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Vertex Energy, Inc, an environmental services company, provides a range of services designed to aggregate, process, and recycle industrial and commercial waste systems in the Gulf Coast and Central Midwest regions of the United States. The company operates through Black Oil, Refining and Marketing, and Recovery segments.
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