VNTG’s (NASDAQ:VNTG) Lock-Up Period Will End on December 9th

VNTG’s (NASDAQ:VNTG) lock-up period will end on Tuesday, December 9th. VNTG had issued 3,250,000 shares in its initial public offering on June 12th. The total size of the offering was $13,000,000 based on an initial share price of $4.00. After the end of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

VNTG Price Performance

Shares of VNTG stock opened at $0.89 on Tuesday. VNTG has a 12 month low of $0.79 and a 12 month high of $7.66.

VNTG announced that its Board of Directors has initiated a share buyback program on Wednesday, November 5th that allows the company to buyback $1.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On VNTG

Hedge funds have recently bought and sold shares of the business. Qube Research & Technologies Ltd acquired a new position in shares of VNTG in the 3rd quarter valued at approximately $97,000. Citadel Advisors LLC acquired a new stake in shares of VNTG during the third quarter worth approximately $562,000. Finally, Quadrature Capital Ltd bought a new stake in shares of VNTG in the third quarter worth $1,603,000.

VNTG Company Profile

We were founded in 2012 by five seasoned shipbrokers with a mission of providing exceptional shipbroking services. We commenced operations with a team of over 20 specialists proficient in their various roles in the tanker markets which involves trading different types of oil and petrochemical products through vessel transportation, including clean petroleum products (“CPP”) and petrochemicals.