Vertex Energy (NASDAQ:VTNR – Get Rating) had its price objective reduced by stock analysts at HC Wainwright from $25.00 to $15.00 in a research note issued on Wednesday, The Fly reports. The firm presently has a "buy" rating on the industrial products company's stock. HC Wainwright's price target indicates a potential upside of 112.77% from the company's previous close.
Several other analysts also recently issued reports on the company. Oppenheimer downgraded Vertex Energy from an "outperform" rating to a "market perform" rating in a research report on Wednesday. Stifel Nicolaus upped their price objective on Vertex Energy from $14.00 to $20.00 in a research report on Wednesday, June 8th. Finally, Credit Suisse Group upped their price objective on Vertex Energy to $21.50 in a research report on Thursday, June 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.50.
Get Vertex Energy alerts:Vertex Energy Stock Down 11.1 %
VTNR opened at $7.05 on Wednesday. The business's fifty day moving average is $12.23 and its two-hundred day moving average is $9.90. The company has a current ratio of 4.10, a quick ratio of 3.87 and a debt-to-equity ratio of 0.63. Vertex Energy has a one year low of $3.30 and a one year high of $18.10.
Vertex Energy (NASDAQ:VTNR – Get Rating) last posted its earnings results on Tuesday, May 10th. The industrial products company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of ($0.11) by $0.22. The firm had revenue of $40.22 million for the quarter, compared to analysts' expectations of $63.63 million. As a group, equities analysts forecast that Vertex Energy will post 3.25 EPS for the current fiscal year.Insider Activity at Vertex Energy
In related news, Director David L. Phillips sold 33,207 shares of the company's stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $15.50, for a total value of $514,708.50. Following the completion of the transaction, the director now directly owns 96,621 shares in the company, valued at $1,497,625.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vertex Energy news, Director David L. Phillips sold 33,207 shares of the company's stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $15.50, for a total transaction of $514,708.50. Following the completion of the sale, the director now directly owns 96,621 shares in the company, valued at $1,497,625.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Benjamin P. Cowart sold 71,133 shares of the company's stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $10.38, for a total value of $738,360.54. Following the sale, the chief executive officer now owns 547,384 shares of the company's stock, valued at $5,681,845.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 175,472 shares of company stock worth $2,058,995. 15.90% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Vertex Energy
Several institutional investors and hedge funds have recently added to or reduced their stakes in VTNR. Potomac Capital Management Inc. acquired a new stake in Vertex Energy during the fourth quarter worth about $476,000. GFG Capital LLC acquired a new stake in Vertex Energy during the fourth quarter worth about $269,000. Saltoro Capital LP acquired a new stake in Vertex Energy during the fourth quarter worth about $61,000. Diametric Capital LP acquired a new stake in Vertex Energy during the fourth quarter worth about $183,000. Finally, Cito Capital Group LLC purchased a new stake in shares of Vertex Energy in the fourth quarter worth about $879,000. 48.16% of the stock is currently owned by institutional investors and hedge funds.
Vertex Energy Company Profile
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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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