Vertex, Inc. (NASDAQ:VERX) Short Interest Update

Vertex, Inc. (NASDAQ:VERX) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 8,719,048 shares, an increase of 15.0% from the February 12th total of 7,582,096 shares. Based on an average trading volume of 2,790,420 shares, the short-interest ratio is currently 3.1 days. Approximately 9.6% of the company’s stock are sold short. Approximately 9.6% of the company’s stock are sold short. Based on an average trading volume of 2,790,420 shares, the short-interest ratio is currently 3.1 days.

Insiders Place Their Bets

In other news, Director Eric C. Andersen acquired 40,000 shares of Vertex stock in a transaction that occurred on Friday, February 20th. The stock was purchased at an average price of $12.91 per share, with a total value of $516,400.00. Following the completion of the transaction, the director owned 150,341 shares in the company, valued at approximately $1,940,902.31. This trade represents a 36.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Westphal bought 247,740 shares of the stock in a transaction on Friday, February 13th. The stock was purchased at an average price of $13.08 per share, for a total transaction of $3,240,439.20. Following the purchase, the insider directly owned 247,740 shares of the company’s stock, valued at approximately $3,240,439.20. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 437,740 shares of company stock worth $5,636,339 over the last ninety days. 43.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vertex

A number of hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in shares of Vertex in the fourth quarter valued at about $32,000. Empowered Funds LLC bought a new position in shares of Vertex in the fourth quarter worth about $45,000. Raymond James Financial Inc. acquired a new position in shares of Vertex during the 2nd quarter worth about $54,000. Advisors Asset Management Inc. boosted its stake in Vertex by 36.9% during the 4th quarter. Advisors Asset Management Inc. now owns 3,320 shares of the company’s stock valued at $66,000 after purchasing an additional 895 shares during the period. Finally, Assetmark Inc. boosted its stake in Vertex by 49.1% during the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock valued at $83,000 after purchasing an additional 1,376 shares during the period. 70.32% of the stock is currently owned by institutional investors.

Vertex Stock Down 0.4%

Shares of Vertex stock opened at $13.25 on Tuesday. Vertex has a 12-month low of $11.86 and a 12-month high of $42.44. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.30. The stock has a 50 day moving average price of $16.16 and a two-hundred day moving average price of $20.17. The stock has a market capitalization of $2.12 billion, a P/E ratio of 331.33, a PEG ratio of 1.58 and a beta of 0.64.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.17 EPS for the quarter, meeting analysts’ consensus estimates of $0.17. The company had revenue of $194.71 million for the quarter, compared to analyst estimates of $194.33 million. Vertex had a net margin of 0.96% and a return on equity of 24.70%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 earnings per share. Equities analysts expect that Vertex will post 0.38 earnings per share for the current year.

Analyst Ratings Changes

VERX has been the subject of several recent research reports. Piper Sandler lowered their price target on Vertex from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Jefferies Financial Group lowered shares of Vertex from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research report on Wednesday, February 11th. BMO Capital Markets reduced their target price on shares of Vertex from $22.00 to $16.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. The Goldman Sachs Group decreased their target price on shares of Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Finally, UBS Group set a $25.00 price target on shares of Vertex in a report on Thursday, February 12th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $23.07.

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.