Vanguard Group Inc. Has $22.67 Million Position in Vertex Energy, Inc. (NASDAQ:VTNR)

Vanguard Group Inc. grew its stake in Vertex Energy, Inc. (NASDAQ:VTNR) by 30.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,094,415 shares of the industrial products company’s stock after purchasing an additional 1,191,692 shares during the period. Vanguard Group Inc. owned about 5.45% of Vertex Energy worth $22,670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp raised its holdings in Vertex Energy by 4,698.1% in the 2nd quarter. State Street Corp now owns 7,198,196 shares of the industrial products company’s stock valued at $75,725,000 after buying an additional 7,048,174 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Vertex Energy by 208.2% in the 1st quarter. Ameriprise Financial Inc. now owns 1,389,661 shares of the industrial products company’s stock valued at $13,730,000 after buying an additional 938,822 shares during the last quarter. BlackRock Inc. raised its holdings in Vertex Energy by 18.0% in the 2nd quarter. BlackRock Inc. now owns 4,587,848 shares of the industrial products company’s stock valued at $28,674,000 after buying an additional 698,681 shares during the last quarter. First Eagle Investment Management LLC bought a new position in Vertex Energy in the 3rd quarter valued at approximately $3,022,000. Finally, Invesco Ltd. bought a new position in Vertex Energy in the 1st quarter valued at approximately $6,655,000. 42.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VTNR. Northland Securities lowered shares of Vertex Energy from an “outperform” rating to a “market perform” rating and set a $2.00 price objective for the company. in a report on Wednesday, January 24th. HC Wainwright dropped their price objective on shares of Vertex Energy from $8.00 to $3.50 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, Stifel Nicolaus lowered shares of Vertex Energy from a “buy” rating to a “hold” rating and lowered their price target for the stock from $6.00 to $4.00 in a report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Vertex Energy presently has a consensus rating of “Hold” and an average price target of $4.88.

Vertex Energy Trading Down 5.5 %

Shares of VTNR stock opened at $1.04 on Friday. Vertex Energy, Inc. has a 52 week low of $1.00 and a 52 week high of $9.26. The company has a quick ratio of 0.52, a current ratio of 1.07 and a debt-to-equity ratio of 1.18. The firm has a 50 day moving average of $1.39 and a 200-day moving average of $2.70.

Vertex Energy Profile

Vertex Energy, Inc, an energy transition company, that focuses on the production and distribution of conventional and alternative fuels. The company engages in refining and distributing petroleum products comprising the mobile refinery and related operations. It sells ferrous and non-ferrous recyclable metal products, and markets Group III base oils and other petroleum-based products, as well as provides transportation and marine salvage services.