Shares of Vertex Energy, Inc. (NASDAQ:VTNR – Get Rating) shot up 2% during trading on Tuesday . The stock traded as high as $8.00 and last traded at $7.99. 21,064 shares were traded during trading, a decline of 99% from the average session volume of 3,298,524 shares. The stock had previously closed at $7.83.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on VTNR. Stifel Nicolaus lifted their target price on shares of Vertex Energy from $14.00 to $20.00 in a report on Wednesday, June 8th. Credit Suisse Group lifted their target price on shares of Vertex Energy to $21.50 in a report on Thursday, June 9th. Oppenheimer downgraded shares of Vertex Energy from an "outperform" rating to a "market perform" rating in a report on Wednesday, August 10th. Finally, HC Wainwright cut their price objective on shares of Vertex Energy from $25.00 to $15.00 and set a "buy" rating for the company in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.50.
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Vertex Energy Stock Down 0.8 %
The firm's 50-day moving average price is $9.72 and its 200 day moving average price is $10.43. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 2.27.
Insider Activity
In other news, CEO Benjamin P. Cowart sold 71,133 shares of the business's stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $8.08, for a total value of $574,754.64. Following the completion of the transaction, the chief executive officer now directly owns 333,986 shares in the company, valued at approximately $2,698,606.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Benjamin P. Cowart sold 71,133 shares of the business's stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $8.08, for a total value of $574,754.64. Following the completion of the transaction, the chief executive officer now directly owns 333,986 shares in the company, valued at approximately $2,698,606.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Benjamin P. Cowart sold 71,132 shares of the business's stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $11.33, for a total transaction of $805,925.56. Following the completion of the transaction, the chief executive officer now owns 476,252 shares of the company's stock, valued at $5,395,935.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,398 shares of company stock worth $2,119,041. 15.90% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Vertex Energy
Institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new position in Vertex Energy during the 1st quarter worth approximately $25,000. Newbridge Financial Services Group Inc. acquired a new position in Vertex Energy during the 2nd quarter worth approximately $26,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in Vertex Energy during the 2nd quarter worth approximately $27,000. CI Investments Inc. acquired a new position in Vertex Energy during the 2nd quarter worth approximately $53,000. Finally, Legal & General Group Plc acquired a new position in Vertex Energy during the 2nd quarter worth approximately $60,000. 62.15% of the stock is currently owned by institutional investors and hedge funds.
About Vertex Energy
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Vertex Energy, Inc, an environmental services company, provides a range of services designed to aggregate, process, and recycle industrial and commercial waste systems in the Gulf Coast and Central Midwest regions of the United States. The company operates through Black Oil, Refining and Marketing, and Recovery segments.
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