Zacks Investment Research cut shares of Vertex Energy (NASDAQ:VTNR) from a strong-buy rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “Vertex Energy, Inc. operates as an environmental services company that recycles industrial waste streams and off-specification commercial chemical products. Its primary focus is recycling used motor oil and other petroleum by-product streams. Vertex operates in three divisions: Black Oil Division, Refining and Marketing Division and Thermal Chemical Extraction Process. The Company also manages the transport, storage and delivery of the aggregated feedstock and product streams to end users, and manages the re-refining of a portion of its aggregated petroleum streams in order to sell them as end products. It sells its aggregated petroleum streams as feedstock to other re-refineries and fuel blenders or as replacement fuel for use in industrial burners. Vertex Energy, Inc. is based in Houston, Texas. “
VTNR has been the topic of a number of other research reports. Roth Capital reiterated a neutral rating on shares of Vertex Energy in a research note on Thursday, September 13th. ValuEngine upgraded shares of Vertex Energy from a hold rating to a buy rating in a research note on Tuesday, October 2nd.
NASDAQ:VTNR opened at $1.75 on Tuesday. The firm has a market capitalization of $59.54 million, a PE ratio of -4.86 and a beta of 1.10. Vertex Energy has a 1-year low of $0.74 and a 1-year high of $2.04. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.53.
Vertex Energy (NASDAQ:VTNR) last released its quarterly earnings data on Thursday, August 9th. The industrial products company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.08. The firm had revenue of $46.92 million for the quarter, compared to analyst estimates of $42.45 million. Vertex Energy had a negative net margin of 1.91% and a negative return on equity of 7.93%. Research analysts predict that Vertex Energy will post -0.08 EPS for the current fiscal year.
A hedge fund recently bought a new stake in Vertex Energy stock. Ardsley Advisory Partners purchased a new position in shares of Vertex Energy Inc (NASDAQ:VTNR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 165,413 shares of the industrial products company’s stock, valued at approximately $175,000. Ardsley Advisory Partners owned approximately 0.47% of Vertex Energy as of its most recent filing with the Securities and Exchange Commission (SEC). 11.77% of the stock is currently owned by hedge funds and other institutional investors.
About Vertex Energy
Vertex Energy, Inc, an environmental services company, provides a range of services designed to aggregate, process, and recycle industrial and commercial waste systems in 15 states, primarily in the Gulf Coast, Midwest, and Mid-Atlantic regions of the United States. The company operates in three divisions: Black Oil, Refining and Marketing, and Recovery.
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