Vertex (NASDAQ:VERX) Hits New 12-Month Low – Here’s Why

Vertex, Inc. (NASDAQ:VERX) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $11.82 and last traded at $11.5250, with a volume of 186787 shares traded. The stock had previously closed at $12.02.

Wall Street Analysts Forecast Growth

VERX has been the subject of several analyst reports. The Goldman Sachs Group reduced their price target on shares of Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Citizens Jmp reduced their target price on shares of Vertex from $37.00 to $25.00 and set a “market outperform” rating for the company in a research note on Thursday, February 12th. DA Davidson set a $13.00 target price on shares of Vertex in a research report on Thursday, February 12th. Jefferies Financial Group lowered shares of Vertex from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research note on Wednesday, February 11th. Finally, Citigroup cut their price target on Vertex from $22.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Vertex has an average rating of “Hold” and a consensus price target of $23.07.

Vertex Price Performance

The firm has a market capitalization of $1.86 billion, a P/E ratio of 291.82, a P/E/G ratio of 1.55 and a beta of 0.63. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30. The business’s fifty day moving average is $15.31 and its 200 day moving average is $19.66.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $194.71 million for the quarter, compared to analysts’ expectations of $194.33 million. Vertex had a return on equity of 24.70% and a net margin of 0.96%.The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 earnings per share. As a group, analysts forecast that Vertex, Inc. will post 0.38 EPS for the current year.

Insider Activity

In other news, Director Eric C. Andersen purchased 40,000 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were acquired at an average price of $12.91 per share, for a total transaction of $516,400.00. Following the completion of the acquisition, the director directly owned 150,341 shares of the company’s stock, valued at $1,940,902.31. The trade was a 36.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Westphal purchased 150,000 shares of Vertex stock in a transaction that occurred on Tuesday, February 17th. The stock was purchased at an average price of $12.53 per share, with a total value of $1,879,500.00. Following the transaction, the insider owned 397,740 shares in the company, valued at $4,983,682.20. This represents a 60.55% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 437,740 shares of company stock worth $5,636,339. Corporate insiders own 43.25% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VERX. Invesco Ltd. boosted its position in Vertex by 14.5% during the 4th quarter. Invesco Ltd. now owns 61,019 shares of the company’s stock worth $1,219,000 after acquiring an additional 7,714 shares during the period. Empowered Funds LLC acquired a new stake in Vertex during the fourth quarter valued at $45,000. XTX Topco Ltd grew its stake in Vertex by 436.2% in the fourth quarter. XTX Topco Ltd now owns 107,909 shares of the company’s stock valued at $2,155,000 after purchasing an additional 87,786 shares in the last quarter. VARCOV Co. acquired a new position in Vertex in the 4th quarter worth about $391,000. Finally, Saba Capital Management L.P. raised its stake in shares of Vertex by 29.5% during the 4th quarter. Saba Capital Management L.P. now owns 263,474 shares of the company’s stock worth $5,262,000 after purchasing an additional 60,000 shares in the last quarter. 70.32% of the stock is owned by institutional investors and hedge funds.

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.