Vertex (NASDAQ:VERX) Shares Gap Down – Here’s What Happened

Vertex, Inc. (NASDAQ:VERX) shares gapped down prior to trading on Tuesday . The stock had previously closed at $12.89, but opened at $12.19. Vertex shares last traded at $12.2140, with a volume of 171,382 shares traded.

Analysts Set New Price Targets

Several equities analysts have commented on VERX shares. Wall Street Zen upgraded shares of Vertex from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Weiss Ratings downgraded shares of Vertex from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Morgan Stanley restated an “equal weight” rating and set a $15.00 target price (down from $19.00) on shares of Vertex in a research report on Tuesday. BMO Capital Markets increased their price target on shares of Vertex from $14.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Vertex in a research report on Monday, June 8th. Seven analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Vertex presently has a consensus rating of “Hold” and an average price target of $20.20.

Vertex Stock Performance

The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.37. The business has a 50 day moving average price of $12.51 and a 200 day moving average price of $13.87. The stock has a market cap of $1.79 billion, a P/E ratio of -221.00 and a beta of 0.83.

Vertex (NASDAQ:VERX) last posted its quarterly earnings data 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 positive return on equity of 26.04% and a negative net margin of 0.84%.The company had revenue of $196.65 million during the quarter, compared to analysts’ expectations of $194.82 million. During the same quarter in the previous year, the business earned $0.15 EPS. Vertex’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that Vertex, Inc. will post 0.52 EPS for the current year.

Institutional Trading of Vertex

Large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in Vertex in the 2nd quarter worth about $54,000. Global Retirement Partners LLC purchased a new stake in Vertex in the 4th quarter valued at about $32,000. Advisors Asset Management Inc. boosted its position in Vertex by 25.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after buying an additional 395 shares during the period. Empowered Funds LLC bought a new position in Vertex in the 4th quarter worth about $45,000. Finally, Assetmark Inc. increased its position in shares of Vertex by 49.1% during the fourth quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after acquiring an additional 1,376 shares during the period. 70.32% of the stock is owned by hedge funds and other institutional investors.

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.