Vertex, Inc. (NASDAQ:VERX) Short Interest Update

Vertex, Inc. (NASDAQ:VERX) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 7,266,393 shares, an increase of 20.6% from the December 15th total of 6,023,811 shares. Based on an average daily volume of 1,022,407 shares, the short-interest ratio is currently 7.1 days. Approximately 8.0% of the shares of the company are short sold. Approximately 8.0% of the shares of the company are short sold. Based on an average daily volume of 1,022,407 shares, the short-interest ratio is currently 7.1 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Bancorp grew its position in shares of Vertex by 31.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock worth $52,000 after buying an additional 347 shares during the period. Raymond James Financial Inc. acquired a new stake in Vertex in the second quarter worth $54,000. Blue Trust Inc. increased its stake in Vertex by 44.4% in the second quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after purchasing an additional 512 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after purchasing an additional 395 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in Vertex in the 3rd quarter valued at about $130,000. Institutional investors and hedge funds own 70.32% of the company’s stock.

Vertex Stock Up 1.5%

Shares of VERX opened at $19.30 on Tuesday. Vertex has a 52 week low of $18.54 and a 52 week high of $60.71. The firm’s 50-day simple moving average is $19.80 and its 200 day simple moving average is $24.57. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $3.08 billion, a P/E ratio of -55.14, a price-to-earnings-growth ratio of 2.94 and a beta of 0.60.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Vertex had a negative net margin of 7.32% and a positive return on equity of 26.84%. The company had revenue of $192.11 million during the quarter, compared to the consensus estimate of $191.62 million. During the same period in the previous year, the business earned $0.16 earnings per share. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts forecast that Vertex will post 0.38 earnings per share for the current year.

Vertex announced that its board has approved a share repurchase plan on Monday, November 3rd that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on VERX. Robert W. Baird set a $25.00 price objective on shares of Vertex in a research report on Tuesday, November 4th. Stephens assumed coverage on Vertex in a research note on Friday, September 26th. They issued an “overweight” rating and a $30.00 target price for the company. DA Davidson lowered their price target on Vertex from $29.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 4th. Piper Sandler decreased their price objective on shares of Vertex from $42.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 4th. Finally, The Goldman Sachs Group set a $25.00 price target on shares of Vertex in a research report on Wednesday, January 14th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.40.

Vertex Company Profile

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.