Vertex (NASDAQ:VERX) Shares Gap Up – Here’s Why

Shares of Vertex, Inc. (NASDAQ:VERX) gapped up prior to trading 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 traded.

Wall Street Analyst Weigh In

Several equities research analysts have commented on VERX shares. BMO Capital Markets increased their price objective on shares of Vertex from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Piper Sandler upped their target price on Vertex from $14.00 to $16.00 and gave the company a “neutral” rating in a 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 report on Friday, May 8th. DA Davidson set a $15.00 price target on Vertex in a report on Friday, May 8th. Finally, Citigroup lifted their price target on Vertex from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.47.

Vertex Trading Up 2.2%

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 market cap of $1.88 billion, a P/E ratio of -233.00 and a beta of 0.82. The firm’s 50-day simple moving average is $12.65 and its 200 day simple moving average is $14.82.

Vertex (NASDAQ:VERX) last released its 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. 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 during the quarter, compared to the consensus estimate of $194.82 million. During the same period in the prior year, the firm earned $0.15 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. As a group, analysts expect that Vertex, Inc. will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Vertex

Several institutional investors and hedge funds have recently bought and sold shares of VERX. Global Retirement Partners LLC bought a new stake in shares of Vertex in the fourth quarter valued at $32,000. Empowered Funds LLC bought a new position in shares of Vertex during the 4th quarter worth $45,000. Raymond James Financial Inc. bought a new position in shares of Vertex during the 2nd quarter worth $54,000. Advisors Asset Management Inc. increased its holdings in Vertex by 36.9% in the 4th quarter. Advisors Asset Management Inc. now owns 3,320 shares of the company’s stock worth $66,000 after acquiring an additional 895 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in Vertex by 49.1% in the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after acquiring an additional 1,376 shares during the last quarter. 70.32% of the stock is owned by 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.