Vertex (NASDAQ:VERX) Shares Gap Up – What’s Next?
by Amy Steele · The Cerbat GemVertex, Inc. (NASDAQ:VERX – Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $11.37, but opened at $12.06. Vertex shares last traded at $11.9410, with a volume of 211,546 shares changing hands.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on VERX shares. Jefferies Financial Group set a $14.00 target price on shares of Vertex in a research report on Saturday, May 9th. Morgan Stanley reissued an “overweight” rating and issued a $19.00 price target on shares of Vertex in a research report on Friday, May 8th. Needham & Company LLC restated a “buy” rating on shares of Vertex in a research note on Monday, June 8th. TD Cowen started coverage on shares of Vertex in a report on Monday. They issued a “buy” rating and a $14.00 price objective for the company. Finally, Piper Sandler lifted their price objective on shares of Vertex from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Vertex presently has an average rating of “Hold” and an average price target of $20.47.
View Our Latest Research Report on VERX
Vertex Stock Performance
The company has a 50-day moving average price of $12.65 and a two-hundred day moving average price of $14.82. The stock has a market capitalization of $1.88 billion, a P/E ratio of -233.00 and a beta of 0.82. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.37.
Vertex (NASDAQ:VERX – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The firm had revenue of $196.65 million for the quarter, compared to the consensus estimate of $194.82 million. During the same period in the prior year, the firm posted $0.15 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts expect that Vertex, Inc. will post 0.52 earnings per share for the current year.
Institutional Trading of Vertex
Institutional investors and hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its holdings in Vertex by 25.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after purchasing an additional 395 shares during the period. Victory Capital Management Inc. raised its position in shares of Vertex by 9.9% in the third quarter. Victory Capital Management Inc. now owns 8,354 shares of the company’s stock worth $207,000 after buying an additional 753 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Vertex by 1.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,056 shares of the company’s stock worth $2,933,000 after buying an additional 1,121 shares in the last quarter. Assetmark Inc. raised its position in shares of Vertex by 49.1% in the fourth quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after buying an additional 1,376 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in Vertex by 2.2% during the second quarter. California State Teachers Retirement System now owns 63,009 shares of the company’s stock valued at $2,226,000 after buying an additional 1,383 shares during the period. 70.32% of the stock is currently owned by hedge funds and other institutional investors.
Vertex Company Profile
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.