Vertex (NASDAQ:VERX) Sets New 52-Week Low – Should You Sell?

Vertex, Inc. (NASDAQ:VERX)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $11.25 and last traded at $11.03, with a volume of 39728 shares. The stock had previously closed at $11.60.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on VERX shares. Weiss Ratings reissued a “sell (d)” rating on shares of Vertex in a research note on Wednesday, January 21st. Needham & Company LLC reduced their price objective on shares of Vertex from $30.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. The Goldman Sachs Group reduced their price objective on shares of Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Piper Sandler reduced their price objective on shares of Vertex from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Finally, DA Davidson set a $13.00 price target on shares of Vertex in a report on Thursday, February 12th. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.07.

Vertex Stock Down 4.2%

The company’s fifty day simple moving average is $13.65 and its 200-day simple moving average is $18.69. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $1.78 billion, a PE ratio of 277.42, a price-to-earnings-growth ratio of 1.43 and a beta of 0.80.

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

Insiders Place Their Bets

In related news, insider Jeffrey Westphal acquired 150,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average cost of $12.53 per share, with a total value of $1,879,500.00. Following the completion of the acquisition, the insider directly owned 397,740 shares of the company’s stock, valued at $4,983,682.20. This represents a 60.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric C. Andersen acquired 40,000 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were bought at an average cost 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 approximately $1,940,902.31. The trade was a 36.25% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 437,740 shares of company stock worth $5,636,339 over the last three months. Corporate insiders own 43.25% of the company’s stock.

Institutional Investors Weigh In On Vertex

A number of large investors have recently made changes to their positions in VERX. Royal Bank of Canada grew its holdings in shares of Vertex by 36.3% during the first quarter. Royal Bank of Canada now owns 180,978 shares of the company’s stock valued at $6,336,000 after buying an additional 48,181 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Vertex by 25.7% during the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after buying an additional 395 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Vertex by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,935 shares of the company’s stock valued at $2,869,000 after buying an additional 3,461 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Vertex by 92.1% during the second quarter. Prudential Financial Inc. now owns 8,105 shares of the company’s stock valued at $286,000 after buying an additional 3,885 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Vertex by 10,910.6% in the second quarter. Russell Investments Group Ltd. now owns 13,543 shares of the company’s stock valued at $479,000 after purchasing an additional 13,420 shares during the last quarter. 70.32% of the stock is owned by hedge funds and other institutional investors.

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.