Vertex (NASDAQ:VERX) Stock Price Down 4.9% – Time to Sell?

Shares of Vertex, Inc. (NASDAQ:VERX) dropped 4.9% during trading on Thursday . The stock traded as low as $12.15 and last traded at $12.1570. Approximately 182,247 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,836,740 shares. The stock had previously closed at $12.79.

Wall Street Analysts Forecast Growth

VERX has been the topic of several recent analyst reports. Citizens Jmp decreased their price target on Vertex from $37.00 to $25.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 12th. UBS Group set a $25.00 price target on Vertex in a research note on Thursday, February 12th. Citigroup boosted their price target on Vertex from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. BMO Capital Markets boosted their price target on Vertex from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, DA Davidson set a $15.00 price target on Vertex in a research note on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Vertex currently has an average rating of “Hold” and an average price target of $20.93.

Vertex Trading Down 2.8%

The company has a debt-to-equity ratio of 1.37, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -248.70 and a beta of 0.82. The business has a 50 day simple moving average of $12.73 and a 200 day simple moving average of $15.51.

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

Institutional Investors Weigh In On Vertex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VERX. Global Retirement Partners LLC bought a new stake in Vertex in the fourth quarter valued at about $32,000. Empowered Funds LLC bought a new stake in Vertex in the fourth quarter valued at about $45,000. Raymond James Financial Inc. bought a new stake in Vertex in the second quarter valued at about $54,000. Advisors Asset Management Inc. increased its holdings in shares of Vertex by 36.9% in the fourth quarter. Advisors Asset Management Inc. now owns 3,320 shares of the company’s stock worth $66,000 after acquiring an additional 895 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Vertex by 49.1% in 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 in 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.