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

Stock analysts at StockNews.com initiated coverage on shares of Vertex Energy (NASDAQ:VTNR) in a research note issued on Saturday. The firm 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 target for the company. in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $2.63.

Vertex Energy Stock Down 51.5 %

Vertex Energy stock opened at $0.05 on Friday. The stock has a 50 day moving average of $0.38 and a two-hundred day moving average of $0.84. Vertex Energy has a twelve month low of $0.05 and a twelve month high of $5.04. The company has a quick ratio of 0.30, a current ratio of 0.56 and a debt-to-equity ratio of 0.61.

Vertex Energy (NASDAQ:VTNR) last issued its quarterly earnings results 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 for 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 prior year, the business earned ($0.55) earnings per share.

Institutional Investors Weigh In On Vertex Energy

Several institutional investors have recently modified their holdings of VTNR. SummerHaven Investment Management LLC raised its holdings in Vertex Energy by 11.6% during the second quarter. SummerHaven Investment Management LLC now owns 130,402 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 13,533 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. acquired a new stake in Vertex Energy in the 1st quarter valued at about $27,000. Willis Johnson & Associates Inc. purchased a new position in Vertex Energy during the 1st quarter valued at about $28,000. Price T Rowe Associates Inc. MD raised its position in Vertex Energy by 79.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 64,976 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 28,700 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Vertex Energy in the second quarter valued at about $54,000. Hedge funds and other institutional investors own 42.99% of the company’s stock.

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.