Equities Analysts Offer Predictions for Vertex Energy, Inc.’s FY2022 Earnings (NASDAQ:VTNR)

Vertex Energy, Inc. (NASDAQ:VTNRGet Rating) – Analysts at HC Wainwright upped their FY2022 earnings estimates for Vertex Energy in a report released on Wednesday, November 9th. HC Wainwright analyst A. Dayal now expects that the industrial products company will earn ($0.38) per share for the year, up from their prior forecast of ($1.03). HC Wainwright currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for Vertex Energy’s current full-year earnings is ($0.31) per share. HC Wainwright also issued estimates for Vertex Energy’s Q4 2022 earnings at $0.39 EPS and FY2023 earnings at $1.18 EPS.

VTNR has been the topic of several other research reports. Oppenheimer lowered shares of Vertex Energy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 10th. StockNews.com raised shares of Vertex Energy to a “sell” rating in a research report on Wednesday, November 9th.

Vertex Energy Stock Performance

Shares of VTNR opened at $8.95 on Monday. The firm’s 50 day moving average price is $7.59 and its 200 day moving average price is $10.20. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 2.27. Vertex Energy has a twelve month low of $3.30 and a twelve month high of $18.10.

Institutional Investors Weigh In On Vertex Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp grew its stake in shares of Vertex Energy by 4,698.1% in the second quarter. State Street Corp now owns 7,198,196 shares of the industrial products company’s stock worth $75,725,000 after acquiring an additional 7,048,174 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Vertex Energy in the second quarter worth $13,872,000. Wells Fargo & Company MN grew its stake in shares of Vertex Energy by 296.8% in the second quarter. Wells Fargo & Company MN now owns 854,606 shares of the industrial products company’s stock worth $8,990,000 after acquiring an additional 639,245 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of Vertex Energy in the second quarter worth $7,262,000. Finally, Invesco Ltd. acquired a new stake in shares of Vertex Energy in the first quarter worth $6,655,000. Institutional investors and hedge funds own 62.15% of the company’s stock.

Insider Activity

In other news, CEO Benjamin P. Cowart sold 66,667 shares of Vertex Energy stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $8.62, for a total value of $574,669.54. Following the transaction, the chief executive officer now owns 5,783,940 shares of the company’s stock, valued at $49,857,562.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Benjamin P. Cowart sold 66,667 shares of Vertex Energy stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $8.62, for a total value of $574,669.54. Following the transaction, the chief executive officer now owns 5,783,940 shares of the company’s stock, valued at $49,857,562.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Benjamin P. Cowart sold 71,132 shares of Vertex Energy stock in a transaction that occurred on Wednesday, October 19th. The shares were sold at an average price of $8.07, for a total transaction of $574,035.24. Following the completion of the transaction, the chief executive officer now directly owns 262,854 shares in the company, valued at approximately $2,121,231.78. The disclosure for this sale can be found here. Insiders have sold a total of 208,932 shares of company stock valued at $1,723,459 over the last 90 days. 15.90% of the stock is currently owned by company insiders.

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.

Further Reading

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