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

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

Wall Street Analysts Forecast Growth

VERX has been the topic of several recent research reports. UBS Group set a $25.00 price target on shares of Vertex in a report on Thursday, February 12th. Citigroup lowered 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. Needham & Company LLC lowered their price target on shares of Vertex from $30.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vertex in a report on Wednesday, January 21st. Finally, Piper Sandler lowered their price target on shares of Vertex from $20.00 to $14.00 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.07.

Vertex Stock Performance

The business’s 50-day simple moving average is $13.65 and its two-hundred day simple moving average is $18.69. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 277.42, a P/E/G ratio of 1.43 and a beta of 0.80. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.30.

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

Insider Transactions at Vertex

In other news, insider Jeffrey Westphal acquired 247,740 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was acquired at an average price of $13.08 per share, for a total transaction of $3,240,439.20. Following the completion of the transaction, the insider owned 247,740 shares in the company, valued at approximately $3,240,439.20. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric C. Andersen acquired 40,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was purchased at an average price of $12.91 per share, with a total value of $516,400.00. Following the transaction, the director owned 150,341 shares of the company’s stock, valued at approximately $1,940,902.31. This trade represents a 36.25% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 437,740 shares of company stock valued at $5,636,339. Insiders own 43.25% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VERX. Royal Bank of Canada raised its position in shares of Vertex by 36.3% in the first quarter. Royal Bank of Canada now owns 180,978 shares of the company’s stock worth $6,336,000 after acquiring an additional 48,181 shares during the period. Advisors Asset Management Inc. raised its position in shares of Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock worth $68,000 after purchasing an additional 395 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Vertex by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,935 shares of the company’s stock worth $2,869,000 after purchasing an additional 3,461 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Vertex by 92.1% during the 2nd quarter. Prudential Financial Inc. now owns 8,105 shares of the company’s stock worth $286,000 after purchasing an additional 3,885 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Vertex by 10,910.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 13,543 shares of the company’s stock worth $479,000 after purchasing an additional 13,420 shares during the last quarter. Institutional investors and hedge funds own 70.32% of the company’s stock.

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.