Vertex (NASDAQ:VERX) Hits New 12-Month Low – Here’s Why

Vertex, Inc. (NASDAQ:VERX) reached a new 52-week low on Monday . The stock traded as low as $10.41 and last traded at $10.3650, with a volume of 498914 shares. The stock had previously closed at $11.12.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on VERX shares. Piper Sandler increased their target price on Vertex from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $21.00 price target on shares of Vertex in a report on Thursday, May 7th. Morgan Stanley reissued an “overweight” rating and set a $19.00 price target on shares of Vertex in a research report on Friday, May 8th. DA Davidson set a $15.00 price objective on Vertex in a research note on Friday, May 8th. Finally, Weiss Ratings downgraded Vertex from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.93.

Vertex Trading Down 7.1%

The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -206.40 and a beta of 0.82. The company’s 50 day simple moving average is $12.69 and its two-hundred day simple moving average is $15.12.

Vertex (NASDAQ:VERX) last issued its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The company had revenue of $196.65 million during the quarter, compared to analyst estimates of $194.82 million. During the same quarter last year, the business posted $0.15 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts expect that Vertex, Inc. will post 0.52 EPS for the current fiscal year.

Institutional Trading of Vertex

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Vertex by 9.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,387,126 shares of the company’s stock worth $207,917,000 after purchasing an additional 689,143 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Vertex by 21.1% during the 4th quarter. Jennison Associates LLC now owns 991,820 shares of the company’s stock valued at $19,807,000 after buying an additional 172,692 shares during the last quarter. Hyperion Capital Advisors LP bought a new stake in shares of Vertex in the 3rd quarter valued at approximately $13,387,000. Champlain Investment Partners LLC grew its stake in shares of Vertex by 19.9% in the 3rd quarter. Champlain Investment Partners LLC now owns 2,049,490 shares of the company’s stock valued at $50,807,000 after buying an additional 340,680 shares in the last quarter. Finally, IVY Lane Capital Management LLC acquired a new position in Vertex in the third quarter worth approximately $2,330,000. Institutional investors and hedge funds own 70.32% of the company’s stock.

About Vertex

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.