Vertex Energy Trading 14.1% Higher Following Better-Than-Expected Earnings (VTNR)
Vertex Energy (NASDAQ:VTNR) traded up 14.1% on Thursday following a better than expected earnings announcement, Stock Ratings News reports. The stock traded as high as $9.00 and last traded at $8.49, with a volume of 1,147,204 shares changing hands. The stock had previously closed at $7.44.
The company reported $0.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.07 by $0.21. The company had revenue of $72.10 million for the quarter, compared to the consensus estimate of $76.16 million. During the same quarter in the prior year, the company posted $0.01 earnings per share.
A number of research firms have recently commented on VTNR. Analysts at Wunderlich reiterated a “buy” rating on shares of Vertex Energy in a research note on Monday, June 2nd. They now have a $12.00 price target on the stock, up previously from $10.00. Analysts at Singular Research raised their price target on shares of Vertex Energy from $10.00 to $15.00 in a research note on Friday, May 30th. They now have a “buy” rating on the stock.
The stock has a 50-day moving average of $8.70 and a 200-day moving average of $7.10. The company has a market cap of $192.0 million and a price-to-earnings ratio of 20.05.
Vertex Energy, Inc (NASDAQ:VTNR) is an environmental services company that recycles industrial waste streams and off-specification commercial chemical products.
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