StockNews.com Initiates Coverage on Vertex Energy (NASDAQ:VTNR)

StockNews.com initiated coverage on shares of Vertex Energy (NASDAQ:VTNR) in a research note issued on Wednesday. The firm set a “sell” rating on the industrial products company’s stock.

Separately, Craig Hallum downgraded Vertex Energy from a “buy” rating to a “hold” rating and set a $1.00 target price on the stock. in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Vertex Energy currently has an average rating of “Hold” and a consensus price target of $2.63.

Vertex Energy Price Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.30 and a current ratio of 0.56. Vertex Energy has a 12 month low of $0.05 and a 12 month high of $5.04. The company has a fifty day moving average of $0.31 and a 200-day moving average of $0.81.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VTNR. SummerHaven Investment Management LLC increased its holdings in shares of Vertex Energy by 11.6% in the second quarter. SummerHaven Investment Management LLC now owns 130,402 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 13,533 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Vertex Energy by 79.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,976 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 28,700 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Vertex Energy during the 2nd quarter valued at about $54,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Vertex Energy in the second quarter valued at about $66,000. Finally, XTX Topco Ltd grew its holdings in shares of Vertex Energy by 89.7% in the second quarter. XTX Topco Ltd now owns 154,284 shares of the industrial products company’s stock valued at $146,000 after purchasing an additional 72,958 shares during the period. 42.99% of the stock is owned by hedge funds and other institutional investors.

About Vertex Energy

Vertex Energy, Inc, an energy transition company, that focuses on the production and distribution of conventional and alternative fuels. The company engages in refining and distributing petroleum products comprising the mobile refinery and related operations. It sells ferrous and non-ferrous recyclable metal products, and markets Group III base oils and other petroleum-based products, as well as provides transportation and marine salvage services.