Vertex (NASDAQ:VERX) Shares Up 4.8% – Here’s What Happened

Vertex, Inc. (NASDAQ:VERX) shares were up 4.8% during trading on Tuesday . The stock traded as high as $12.95 and last traded at $13.0680. 42,174 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 1,954,262 shares. The stock had previously closed at $12.47.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VERX shares. Stephens decreased their price target on Vertex from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 4th. The Goldman Sachs Group reissued a “buy” rating and issued a $21.00 price objective on shares of Vertex in a research note on Thursday, May 7th. DA Davidson decreased their target price on Vertex from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. Citigroup raised their target price on Vertex from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, BMO Capital Markets lifted their price target on Vertex from $14.00 to $15.00 and gave the company a “market perform” rating in a report on Tuesday, August 4th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.43.

Vertex Stock Performance

The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 676.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a 50-day moving average of $12.25 and a 200 day moving average of $12.88.

Vertex (NASDAQ:VERX) last released its earnings results on Monday, August 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $203.97 million for the quarter, compared to the consensus estimate of $202.21 million. Vertex had a net margin of 0.45% and a return on equity of 29.00%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 EPS. On average, analysts expect that Vertex, Inc. will post 0.54 EPS for the current year.

Hedge Funds Weigh In On Vertex

A number of hedge funds and other institutional investors have recently bought and sold shares of VERX. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Vertex in the 1st quarter valued at $37,796,000. Wasatch Advisors LP bought a new position in shares of Vertex in the 2nd quarter worth $88,293,000. Legacy Advisors LLC grew its stake in shares of Vertex by 2,730.1% during the third quarter. Legacy Advisors LLC now owns 1,343,779 shares of the company’s stock worth $33,312,000 after purchasing an additional 1,296,297 shares during the period. Park West Asset Management LLC acquired a new stake in shares of Vertex during the third quarter worth $30,988,000. Finally, Wellington Management Group LLP increased its holdings in Vertex by 76.7% in the third quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock valued at $53,584,000 after purchasing an additional 937,905 shares during the last quarter. 70.32% of the stock is 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.