Y Intercept Hong Kong Ltd Grows Stock Position in Vertex, Inc. $VERX

Y Intercept Hong Kong Ltd raised its holdings in shares of Vertex, Inc. (NASDAQ:VERX) by 35.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 256,289 shares of the company’s stock after purchasing an additional 67,270 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Vertex were worth $3,047,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VERX. Advisors Asset Management Inc. grew its position in shares of Vertex by 25.7% in the first 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 last quarter. Victory Capital Management Inc. raised its position in shares of Vertex by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 8,354 shares of the company’s stock worth $207,000 after purchasing an additional 753 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Vertex by 1.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,056 shares of the company’s stock valued at $2,933,000 after buying an additional 1,121 shares in the last quarter. Assetmark Inc. grew its holdings in Vertex by 49.1% during the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock valued at $83,000 after buying an additional 1,376 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in Vertex by 2.2% during the 2nd 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 last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

Vertex Stock Performance

NASDAQ:VERX traded up $0.53 during trading hours on Tuesday, reaching $13.38. 281,060 shares of the stock were exchanged, compared to its average volume of 1,848,207. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.37. The firm has a 50 day simple moving average of $12.64 and a 200-day simple moving average of $14.50. Vertex, Inc. has a 52 week low of $10.21 and a 52 week high of $36.75. The stock has a market capitalization of $2.16 billion, a P/E ratio of -267.20 and a beta of 0.83.

Vertex (NASDAQ:VERX) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $196.65 million during the quarter, compared to the consensus estimate of $194.82 million. Vertex had a positive return on equity of 26.04% and a negative net margin of 0.84%.The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 EPS. As a group, sell-side analysts forecast that Vertex, Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Piper Sandler lifted their price objective on Vertex from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $19.00 price target on shares of Vertex in a research note on Friday, May 8th. BMO Capital Markets lifted their price target on shares of Vertex from $14.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Needham & Company LLC reissued a “buy” rating on shares of Vertex in a research report on Monday, June 8th. Finally, Wall Street Zen raised shares of Vertex from a “hold” rating to a “buy” rating in a research note on Saturday. Eight investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.47.

About Vertex

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.