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

StockNews.com assumed coverage on shares of Vertex Energy (NASDAQ:VTNR) in a research report released on Friday morning. The firm issued a sell rating on the industrial products company’s stock.

Separately, Craig Hallum downgraded Vertex Energy from a buy rating to a hold rating and set a $1.00 price objective on the stock. in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $2.63.

Vertex Energy Trading Down 51.5 %

Shares of VTNR stock opened at $0.05 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.56 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average price of $0.39 and a 200 day moving average price of $0.85. Vertex Energy has a one year low of $0.05 and a one year high of $5.04.

Vertex Energy (NASDAQ:VTNR) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported ($0.58) earnings per share (EPS) 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 net margin of 3.61% and a negative return on equity of 58.04%. During the same quarter in the prior year, the company posted ($0.55) earnings per share.

Institutional Investors Weigh In On Vertex Energy

Institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in shares of Vertex Energy by 79.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 64,976 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 28,700 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Vertex Energy in the first quarter worth approximately $107,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Vertex Energy during the 2nd quarter valued at $94,000. Hennessy Advisors Inc. boosted its position in Vertex Energy by 44.0% during the 1st quarter. Hennessy Advisors Inc. now owns 463,800 shares of the industrial products company’s stock worth $649,000 after acquiring an additional 141,700 shares during the period. Finally, Ceeto Capital Group LLC grew its position in Vertex Energy by 74.3% during the first quarter. Ceeto Capital Group LLC now owns 237,000 shares of the industrial products company’s stock valued at $332,000 after purchasing an additional 101,000 shares in the last quarter. Institutional investors own 42.99% of the company’s stock.

Vertex Energy Company 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.