Vertex Energy (NASDAQ:VTNR) Shares Gap Up to $6.90

Vertex Energy, Inc. (NASDAQ:VTNRGet Rating) shares gapped up before the market opened on Tuesday . The stock had previously closed at $6.90, but opened at $7.14. Vertex Energy shares last traded at $7.40, with a volume of 19,839 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VTNR. UBS Group began coverage on Vertex Energy in a report on Tuesday, December 13th. They set a “neutral” rating and a $6.90 price target on the stock. StockNews.com raised Vertex Energy from a “sell” rating to a “hold” rating in a report on Friday, November 18th.

Vertex Energy Trading Down 0.8 %

The company has a fifty day moving average of $6.98 and a 200 day moving average of $8.13. The company has a current ratio of 1.43, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76.

Vertex Energy (NASDAQ:VTNRGet Rating) last announced its earnings results on Tuesday, November 8th. The industrial products company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). Vertex Energy had a positive return on equity of 42.83% and a negative net margin of 3.11%. The firm had revenue of $810.21 million for the quarter, compared to the consensus estimate of $943.06 million. As a group, analysts anticipate that Vertex Energy, Inc. will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vertex Energy news, CEO Benjamin P. Cowart sold 66,666 shares of Vertex Energy stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $8.13, for a total value of $541,994.58. Following the transaction, the chief executive officer now owns 5,717,274 shares in the company, valued at $46,481,437.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Vertex Energy news, CEO Benjamin P. Cowart sold 66,666 shares of Vertex Energy stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $8.13, for a total value of $541,994.58. Following the transaction, the chief executive officer now owns 5,717,274 shares in the company, valued at $46,481,437.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Benjamin P. Cowart sold 66,667 shares of Vertex Energy stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $8.62, for a total transaction of $574,669.54. Following the completion of the transaction, the chief executive officer now owns 5,783,940 shares in the company, valued at approximately $49,857,562.80. The disclosure for this sale can be found here. 16.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vertex Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Leavell Investment Management Inc. grew its position in Vertex Energy by 4.0% during the 4th quarter. Leavell Investment Management Inc. now owns 78,000 shares of the industrial products company’s stock worth $484,000 after purchasing an additional 3,000 shares in the last quarter. Brookstone Capital Management purchased a new position in Vertex Energy during the 4th quarter worth approximately $150,000. Baird Financial Group Inc. grew its position in Vertex Energy by 3.3% during the 3rd quarter. Baird Financial Group Inc. now owns 304,810 shares of the industrial products company’s stock worth $1,899,000 after purchasing an additional 9,674 shares in the last quarter. Maven Securities LTD grew its position in Vertex Energy by 150.0% during the 3rd quarter. Maven Securities LTD now owns 250,000 shares of the industrial products company’s stock worth $1,558,000 after purchasing an additional 150,000 shares in the last quarter. Finally, State Street Corp grew its position in Vertex Energy by 39.3% during the 3rd quarter. State Street Corp now owns 10,025,512 shares of the industrial products company’s stock worth $62,459,000 after purchasing an additional 2,827,316 shares in the last quarter. 63.44% of the stock is currently owned by hedge funds and other institutional investors.

About Vertex Energy

(Get Rating)

Vertex Energy, Inc engages in the recycle of industrial waste streams and off-specification commercial chemical products. The firm focuses on the recycle of used motor oil and other petroleum by-products. It operates through the following segments: Black Oil, Refining and Marketing and Recovery. The Black Oil segment collects and purchases used motor oil from third-party generators, established network of local and regional collectors and sells used motor oil to customers for use as a feedstock or replacement fuel for industrial burners.

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