Vertex Energy, Inc. (NASDAQ:VTNR – Free Report) – Analysts at HC Wainwright dropped their Q2 2023 EPS estimates for shares of Vertex Energy in a report released on Wednesday, July 26th. HC Wainwright analyst A. Dayal now expects that the industrial products company will post earnings of ($0.60) per share for the quarter, down from their prior estimate of ($0.26). HC Wainwright currently has a “Buy” rating and a $12.00 price objective on the stock. The consensus estimate for Vertex Energy’s current full-year earnings is ($0.36) per share. HC Wainwright also issued estimates for Vertex Energy’s FY2023 earnings at ($0.71) EPS.
Other equities analysts have also recently issued research reports about the stock. StockNews.com raised shares of Vertex Energy from a “sell” rating to a “hold” rating in a research note on Wednesday. Oppenheimer reaffirmed a “market perform” rating and issued a $10.00 price objective on shares of Vertex Energy in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.15.
Vertex Energy Trading Down 3.8 %
Vertex Energy (NASDAQ:VTNR – Get Free Report) last released its quarterly earnings results on Tuesday, May 9th. The industrial products company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.77). The company had revenue of $691.14 million for the quarter, compared to the consensus estimate of $768.53 million. Vertex Energy had a return on equity of 36.41% and a net margin of 1.57%.
Insider Activity at Vertex Energy
In related news, COO James Gary Rhame acquired 4,000 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were purchased at an average cost of $6.33 per share, with a total value of $25,320.00. Following the completion of the transaction, the chief operating officer now owns 14,648 shares of the company’s stock, valued at approximately $92,721.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 11.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its stake in Vertex Energy by 190.5% in the first quarter. Tower Research Capital LLC TRC now owns 4,605 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 3,020 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Vertex Energy in the second quarter worth $60,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Vertex Energy in the fourth quarter worth $61,000. IVC Wealth Advisors LLC acquired a new stake in shares of Vertex Energy in the second quarter worth $71,000. Finally, Linscomb & Williams Inc. acquired a new stake in shares of Vertex Energy in the fourth quarter worth $74,000. 47.72% of the stock is owned by hedge funds and other institutional investors.
Vertex Energy Company Profile
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.
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