ETF Managers Group LLC Takes Position in Vertex Energy, Inc. (NASDAQ:VTNR)

Posted by Defense World Staff on Jul 2nd, 2023

ETF Managers Group LLC purchased a new stake in shares of Vertex Energy, Inc. (NASDAQ:VTNR – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 17,151 shares of the industrial products company’s stock, valued at approximately $169,000.

Other hedge funds also recently modified their holdings of the company. Legal & General Group Plc acquired a new position in shares of Vertex Energy during the 2nd quarter valued at $60,000. Advisor Group Holdings Inc. increased its position in shares of Vertex Energy by 122.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,770 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 3,180 shares during the period. Bank of America Corp DE acquired a new position in shares of Vertex Energy during the 1st quarter valued at $85,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Vertex Energy during the 4th quarter valued at $61,000. Finally, CI Investments Inc. grew its holdings in shares of Vertex Energy by 100.0% in the 3rd quarter. CI Investments Inc. now owns 10,000 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 5,000 shares during the last quarter. 47.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Vertex Energy

In related news, CEO Benjamin P. Cowart sold 66,667 shares of Vertex Energy stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $8.29, for a total transaction of $552,669.43. Following the completion of the sale, the chief executive officer now owns 5,517,274 shares of the company’s stock, valued at $45,738,201.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO James Gary Rhame bought 4,000 shares of the business’s stock in a transaction on Friday, May 12th. The shares were bought at an average cost of $6.33 per share, for a total transaction of $25,320.00. Following the completion of the acquisition, the chief operating officer now directly owns 14,648 shares in the company, valued at $92,721.84. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Benjamin P. Cowart sold 66,667 shares of the firm’s stock in a transaction dated Tuesday, April 11th. The shares were sold at an average price of $8.29, for a total value of $552,669.43. Following the transaction, the chief executive officer now owns 5,517,274 shares in the company, valued at $45,738,201.46. The disclosure for this sale can be found here. Insiders own 11.80% of the company’s stock.

Vertex Energy Trading Up 3.1 %

Shares of Vertex Energy stock opened at $6.25 on Friday. The business has a fifty day simple moving average of $6.55 and a 200-day simple moving average of $7.34. The company has a quick ratio of 0.77, a current ratio of 1.47 and a debt-to-equity ratio of 1.00. Vertex Energy, Inc. has a 12 month low of $5.15 and a 12 month high of $14.64.

Vertex Energy (NASDAQ:VTNR – Free Report) last released its quarterly earnings data on Tuesday, May 9th. The industrial products company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.77). The firm had revenue of $691.14 million for the quarter, compared to analyst estimates of $768.53 million. Vertex Energy had a net margin of 1.57% and a return on equity of 36.41%. Equities analysts predict that Vertex Energy, Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TD Cowen assumed coverage on Vertex Energy in a report on Friday, March 10th. They issued a “market perform” rating and a $8.00 target price on the stock. StockNews.com upgraded Vertex Energy from a “sell” rating to a “hold” rating in a report on Monday, June 26th. Finally, HC Wainwright decreased their target price on Vertex Energy from $15.00 to $12.00 in a report on Thursday, June 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.82.

Vertex Energy Company Profile

(Free Report)

Vertex Energy, Inc, an energy transition company that focuses on the production and distribution of conventional and alternative fuels. It engages in refining and distributing petroleum products comprising the mobile refinery and related operations. The company also 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.