StockNews.com Initiates Coverage on Vertex Energy (NASDAQ:VTNR)

Equities research analysts at StockNews.com assumed coverage on shares of Vertex Energy (NASDAQ:VTNR) in a research report issued to clients and investors on Friday. The brokerage set a “sell” rating on the industrial products company’s stock.

Separately, Craig Hallum cut shares of Vertex Energy from a “buy” rating to a “hold” rating and set a $1.00 price objective for the company. in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.63.

Vertex Energy Stock Performance

Shares of VTNR stock opened at $0.12 on Friday. Vertex Energy has a 1 year low of $0.10 and a 1 year high of $5.04. The stock has a fifty day moving average of $0.44 and a two-hundred day moving average of $0.88. The company has a current ratio of 0.56, a quick ratio of 0.30 and a debt-to-equity ratio of 0.61.

Vertex Energy (NASDAQ:VTNR) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.48). The company had revenue of $750.06 million during the quarter, compared to analyst estimates of $729.29 million. Vertex Energy had a negative return on equity of 58.04% and a negative net margin of 3.61%. During the same period in the previous year, the company earned ($0.55) EPS. Equities analysts forecast that Vertex Energy will post -0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VTNR. Oracle Investment Management Inc. lifted its holdings in Vertex Energy by 97.6% in the 4th quarter. Oracle Investment Management Inc. now owns 50,000 shares of the industrial products company’s stock valued at $170,000 after acquiring an additional 24,700 shares during the last quarter. Hennessy Advisors Inc. lifted its stake in Vertex Energy by 44.0% during the first quarter. Hennessy Advisors Inc. now owns 463,800 shares of the industrial products company’s stock valued at $649,000 after purchasing an additional 141,700 shares during the last quarter. Willis Johnson & Associates Inc. bought a new stake in Vertex Energy during the first quarter worth approximately $28,000. Mitchell Mcleod Pugh & Williams Inc. acquired a new position in Vertex Energy in the first quarter worth approximately $27,000. Finally, Nwam LLC increased its holdings in shares of Vertex Energy by 15.7% in the first quarter. Nwam LLC now owns 649,377 shares of the industrial products company’s stock valued at $942,000 after buying an additional 88,000 shares in the last quarter. 42.99% of the stock is owned by institutional investors and hedge funds.

About Vertex Energy

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.