Vertex Energy, Inc (VTNR) Lifted to Hold at Zacks Investment Research
Vertex Energy, Inc (NASDAQ:VTNR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Vertex Energy, Inc. operates as an environmental services company that recycles industrial waste streams and off-specification commercial chemical products. Its primary focus is recycling used motor oil and other petroleum by-product streams. Vertex operates in three divisions: Black Oil Division, Refining and Marketing Division and Thermal Chemical Extraction Process. The Company also manages the transport, storage and delivery of the aggregated feedstock and product streams to end users, and manages the re-refining of a portion of its aggregated petroleum streams in order to sell them as end products. It sells its aggregated petroleum streams as feedstock to other re-refineries and fuel blenders or as replacement fuel for use in industrial burners. Vertex Energy, Inc. is based in Houston, Texas. “
Shares of Vertex Energy (NASDAQ VTNR) remained flat at $1.04 during midday trading on Wednesday. 630 shares of the company were exchanged. Vertex Energy has a 12-month low of $0.90 and a 12-month high of $1.80. The stock’s market capitalization is $33.43 million. The firm’s 50-day moving average is $1.04 and its 200 day moving average is $1.17.
Vertex Energy (NASDAQ:VTNR) last announced its quarterly earnings results on Wednesday, May 10th. The industrial products company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.07. Vertex Energy had a negative net margin of 5.63% and a negative return on equity of 16.86%. The firm had revenue of $34.77 million during the quarter, compared to analyst estimates of $30.03 million. On average, equities research analysts predict that Vertex Energy will post ($0.20) EPS for the current year.
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A number of hedge funds have recently modified their holdings of the company. Vertex One Asset Management Inc. raised its position in Vertex Energy by 1,334.8% in the fourth quarter. Vertex One Asset Management Inc. now owns 1,815,831 shares of the industrial products company’s stock worth $2,379,000 after buying an additional 1,689,272 shares in the last quarter. Ardsley Advisory Partners purchased a new position in Vertex Energy during the third quarter worth approximately $2,962,000. Wellington Management Group LLP raised its position in Vertex Energy by 47.7% in the first quarter. Wellington Management Group LLP now owns 1,491,653 shares of the industrial products company’s stock worth $2,909,000 after buying an additional 481,933 shares in the last quarter. Redmond Asset Management LLC raised its position in Vertex Energy by 0.4% in the fourth quarter. Redmond Asset Management LLC now owns 701,292 shares of the industrial products company’s stock worth $919,000 after buying an additional 2,960 shares in the last quarter. Finally, Benchmark Capital Advisors raised its position in Vertex Energy by 44.4% in the first quarter. Benchmark Capital Advisors now owns 347,769 shares of the industrial products company’s stock worth $678,000 after buying an additional 107,000 shares in the last quarter. Hedge funds and other institutional investors own 23.48% of the company’s stock.
About Vertex Energy
Vertex Energy, Inc is an environmental services company that recycles industrial waste streams and off-specification commercial chemical products. The Company focuses on recycling used motor oil and other petroleum by-products. The Company’s segments include the Black Oil, Refining and Marketing, and Recovery divisions.
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