Vertex, Inc. (NASDAQ:VERX) Short Interest Up 15.0% in February

Vertex, Inc. (NASDAQ:VERX) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 8,719,048 shares, a growth of 15.0% from the February 12th total of 7,582,096 shares. Based on an average daily volume of 2,790,420 shares, the days-to-cover ratio is currently 3.1 days. Approximately 9.6% of the shares of the company are short sold. Approximately 9.6% of the shares of the company are short sold. Based on an average daily volume of 2,790,420 shares, the days-to-cover ratio is currently 3.1 days.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. UBS Group set a $25.00 price objective on shares of Vertex in a research report on Thursday, February 12th. Morgan Stanley set a $20.00 price target on shares of Vertex in a research note on Thursday, February 12th. Citigroup decreased their price objective on Vertex from $22.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Finally, Jefferies Financial Group lowered Vertex from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a research report on Wednesday, February 11th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.07.

Insider Buying and Selling at Vertex

In other Vertex news, insider Jeffrey Westphal acquired 247,740 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was purchased at an average price of $13.08 per share, with a total value of $3,240,439.20. Following the completion of the acquisition, the insider directly owned 247,740 shares in the company, valued at $3,240,439.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eric C. Andersen bought 40,000 shares of the stock in a transaction on Friday, February 20th. The shares were acquired at an average price of $12.91 per share, with a total value of $516,400.00. Following the purchase, the director owned 150,341 shares of the company’s stock, valued at $1,940,902.31. The trade was a 36.25% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 437,740 shares of company stock worth $5,636,339 over the last 90 days. 43.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vertex

A number of institutional investors and hedge funds have recently made changes to their positions in VERX. DLD Asset Management LP bought a new position in shares of Vertex in the 2nd quarter valued at about $300,348,000. Wasatch Advisors LP bought a new stake in shares of Vertex during the second quarter worth approximately $88,293,000. Massachusetts Financial Services Co. MA lifted its holdings in Vertex by 231.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,567,902 shares of the company’s stock valued at $88,448,000 after buying an additional 2,490,097 shares during the period. Champlain Investment Partners LLC acquired a new position in Vertex in the second quarter valued at approximately $60,381,000. Finally, Legacy Advisors LLC boosted its stake in Vertex by 2,730.1% in the third quarter. Legacy Advisors LLC now owns 1,343,779 shares of the company’s stock valued at $33,312,000 after acquiring an additional 1,296,297 shares during the last quarter. Institutional investors own 70.32% of the company’s stock.

Vertex Stock Performance

Vertex stock opened at $13.20 on Wednesday. The stock has a 50-day simple moving average of $16.03 and a 200 day simple moving average of $20.08. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 330.08, a P/E/G ratio of 1.58 and a beta of 0.63. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.30. Vertex has a 12-month low of $11.86 and a 12-month high of $42.44.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. Vertex had a net margin of 0.96% and a return on equity of 24.70%. The firm had revenue of $194.71 million during the quarter, compared to analysts’ expectations of $194.33 million. During the same quarter last year, the company posted $0.15 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts anticipate that Vertex will post 0.38 earnings per share for the current fiscal year.

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.