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

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

Analyst Ratings Changes

A number of analysts recently commented on the company. Needham & Company LLC dropped their price target on Vertex from $30.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. The Goldman Sachs Group reduced their price objective on Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Citizens Jmp reduced their price objective on Vertex from $37.00 to $25.00 and set a “market outperform” rating for the company in a research note on Thursday, February 12th. Jefferies Financial Group lowered Vertex from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research report on Wednesday, February 11th. Finally, Citigroup cut their price target on shares of Vertex from $22.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.07.

Vertex Price Performance

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 $15.01 and its 200 day moving average is $19.55. The company has a market cap of $1.88 billion, a P/E ratio of 294.32, a PEG ratio of 1.39 and a beta of 0.63.

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

Insider Buying and Selling at Vertex

In other news, Director Eric C. Andersen acquired 40,000 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was bought at an average price of $12.91 per share, with a total value of $516,400.00. Following the acquisition, the director owned 150,341 shares in the company, valued at $1,940,902.31. The trade was a 36.25% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Westphal acquired 247,740 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was purchased at an average price of $13.08 per share, for a total transaction of $3,240,439.20. Following the completion of the purchase, the insider directly owned 247,740 shares in the company, valued at $3,240,439.20. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 437,740 shares of company stock valued at $5,636,339 in the last quarter. 43.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vertex

Several large investors have recently modified their holdings of VERX. Raymond James Financial Inc. purchased a new stake in shares of Vertex during the 2nd quarter valued at approximately $54,000. Global Retirement Partners LLC purchased a new position in Vertex in the 4th quarter valued at approximately $32,000. Advisors Asset Management Inc. grew its stake 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 buying an additional 395 shares in the last quarter. Empowered Funds LLC bought a new stake in Vertex during the 4th quarter valued at $45,000. Finally, Assetmark Inc. lifted its position in shares of Vertex by 49.1% during the fourth quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after acquiring an additional 1,376 shares in the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.

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.