Vertex, Inc. (NASDAQ:VERX) Short Interest Up 20.6% in December

Vertex, Inc. (NASDAQ:VERX) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 7,266,393 shares, a growth of 20.6% from the December 15th total of 6,023,811 shares. Approximately 8.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,022,407 shares, the days-to-cover ratio is presently 7.1 days. Based on an average daily trading volume, of 1,022,407 shares, the days-to-cover ratio is presently 7.1 days. Approximately 8.0% of the company’s shares are sold short.

Institutional Trading of Vertex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its holdings in shares of Vertex by 31.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,467 shares of the company’s stock valued at $52,000 after buying an additional 347 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Vertex in the second quarter valued at $54,000. Blue Trust Inc. lifted its position in Vertex by 44.4% in the second quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock valued at $59,000 after acquiring an additional 512 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Vertex by 25.7% in the first quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after acquiring an additional 395 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of Vertex during the third quarter worth about $130,000. Institutional investors and hedge funds own 70.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on VERX shares. Stephens initiated coverage on Vertex in a research report on Friday, September 26th. They issued an “overweight” rating and a $30.00 target price for the company. The Goldman Sachs Group set a $25.00 price objective on shares of Vertex in a report on Wednesday, January 14th. Citigroup lowered shares of Vertex from a “market outperform” rating to a “hold” rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Vertex in a research note on Wednesday, October 8th. Finally, Citizens Jmp reduced their price target on Vertex from $50.00 to $37.00 and set a “market outperform” rating on the stock in a research report on Tuesday, November 4th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Vertex currently has an average rating of “Moderate Buy” and a consensus target price of $32.40.

Vertex Stock Performance

Shares of VERX stock opened at $19.00 on Wednesday. The company has a market cap of $3.03 billion, a P/E ratio of -54.28, a PEG ratio of 2.94 and a beta of 0.60. The firm has a fifty day moving average price of $19.79 and a 200 day moving average price of $24.45. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.27. Vertex has a 12 month low of $18.54 and a 12 month high of $60.71.

Vertex (NASDAQ:VERX) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $192.11 million for the quarter, compared to analysts’ expectations of $191.62 million. Vertex had a positive return on equity of 26.84% and a negative net margin of 7.32%.Vertex’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $0.16 earnings per share. Sell-side analysts predict that Vertex will post 0.38 earnings per share for the current fiscal year.

Vertex declared that its Board of Directors has initiated a share buyback plan on Monday, November 3rd that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.