Vertex (NASDAQ:VERX) Stock Price Up 6% – Here’s Why

Vertex, Inc. (NASDAQ:VERX)’s share price traded up 6% on Monday . The stock traded as high as $13.15 and last traded at $13.12. Approximately 346,480 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,832,369 shares. The stock had previously closed at $12.38.

Analysts Set New Price Targets

A number of research analysts have commented on VERX shares. Weiss Ratings cut Vertex from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Jefferies Financial Group set a $14.00 target price on Vertex in a research note on Saturday, May 9th. The Goldman Sachs Group restated a “buy” rating and set a $21.00 target price on shares of Vertex in a report on Thursday, May 7th. Piper Sandler lifted their price objective on shares of Vertex from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, DA Davidson set a $15.00 price target on Vertex in a research report on Friday, May 8th. Eight analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.47.

Vertex Stock Up 6.1%

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The business has a 50 day moving average of $12.67 and a 200-day moving average of $14.29. The stock has a market cap of $2.12 billion, a PE ratio of -262.46 and a beta of 0.83.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate 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 company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. Equities research analysts predict that Vertex, Inc. will post 0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Vertex

Institutional investors and hedge funds have recently made changes to their positions in the business. 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 worth $6,336,000 after buying an additional 48,181 shares during the last quarter. Advisors Asset Management Inc. lifted its position in 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 acquiring an additional 395 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Vertex by 4.4% in 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 purchasing an additional 3,461 shares during the period. Prudential Financial Inc. raised its stake in shares of Vertex by 92.1% during the second 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. lifted its holdings in shares of Vertex by 10,910.6% during the second 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 period. 70.32% of the stock is owned by hedge funds and other institutional investors.

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.