Vertex (NASDAQ:VERX) Shares Gap Up – Time to Buy?

Vertex, Inc. (NASDAQ:VERX) gapped up prior to trading on Tuesday . The stock had previously closed at $10.58, but opened at $11.00. Vertex shares last traded at $10.7520, with a volume of 91,061 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VERX. Piper Sandler upped their price objective on shares of Vertex from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Jefferies Financial Group set a $14.00 target price on shares of Vertex in a report on Saturday, May 9th. Weiss Ratings cut shares of Vertex from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Needham & Company LLC reiterated a “buy” rating on shares of Vertex in a report on Monday, June 8th. Finally, Wall Street Zen lowered Vertex from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Vertex currently has an average rating of “Hold” and a consensus price target of $20.93.

Vertex Trading Down 0.3%

The firm’s 50 day simple moving average is $12.68 and its two-hundred day simple moving average is $15.06. The stock has a market capitalization of $1.71 billion, a P/E ratio of -211.60 and a beta of 0.82. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.37.

Vertex (NASDAQ:VERX) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $196.65 million for the quarter, compared to analysts’ expectations of $194.82 million. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 EPS. As a group, analysts forecast that Vertex, Inc. will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertex

Several hedge funds and other institutional investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Vertex in the 1st quarter worth $37,796,000. Wasatch Advisors LP bought a new stake in Vertex during the 2nd quarter valued at $88,293,000. Legacy Advisors LLC increased its stake in Vertex by 2,730.1% during the 3rd quarter. Legacy Advisors LLC now owns 1,343,779 shares of the company’s stock valued at $33,312,000 after purchasing an additional 1,296,297 shares in the last quarter. Park West Asset Management LLC acquired a new position in Vertex during the third quarter worth $30,988,000. Finally, Wellington Management Group LLP raised its holdings in Vertex by 76.7% during the third quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock worth $53,584,000 after buying an additional 937,905 shares during the last quarter. Institutional investors own 70.32% of the company’s stock.

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.