Vertex Energy (NASDAQ:VTNR) Now Covered by Analysts at StockNews.com

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

Vertex Energy Stock Up 3.5 %

NASDAQ:VTNR opened at $0.33 on Tuesday. The company’s 50-day moving average is $0.61 and its two-hundred day moving average is $0.99. Vertex Energy has a 1-year low of $0.30 and a 1-year high of $5.40. 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 issued 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 business had revenue of $750.06 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted ($0.55) earnings per share. As a group, equities analysts anticipate that Vertex Energy will post -0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vertex Energy

Several hedge funds have recently bought and sold shares of VTNR. Price T Rowe Associates Inc. MD grew its position in Vertex Energy by 79.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,976 shares of the industrial products company’s stock valued at $91,000 after acquiring an additional 28,700 shares in the last quarter. Versor Investments LP acquired a new position in shares of Vertex Energy in the fourth quarter valued at approximately $161,000. Victory Capital Management Inc. purchased a new stake in Vertex Energy during the 4th quarter worth approximately $38,000. Quadrature Capital Ltd acquired a new stake in Vertex Energy during the 1st quarter worth approximately $107,000. Finally, Hennessy Advisors Inc. boosted its position in Vertex Energy by 44.0% in the 1st quarter. Hennessy Advisors Inc. now owns 463,800 shares of the industrial products company’s stock valued at $649,000 after buying an additional 141,700 shares during the period. Institutional investors and hedge funds 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.