Vertex Energy (NASDAQ:VTNR) Downgraded by Zacks Investment Research

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Zacks Investment Research cut shares of Vertex Energy (NASDAQ:VTNR) from a buy rating to a hold rating in a research report report published on Saturday, Zacks.com reports.

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. “

Separately, ValuEngine upgraded Zynerba Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, April 1st.

NASDAQ:VTNR opened at $1.46 on Friday. The stock has a 50 day moving average price of $1.46. The company has a market cap of $57.18 million, a P/E ratio of -6.35 and a beta of 1.64. Vertex Energy has a 1-year low of $0.90 and a 1-year high of $2.04. The company has a quick ratio of 0.45, a current ratio of 0.60 and a debt-to-equity ratio of 1.37.

Vertex Energy (NASDAQ:VTNR) last released its earnings results on Wednesday, May 8th. The industrial products company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.04. The company had revenue of $39.32 million during the quarter, compared to the consensus estimate of $44.30 million. Vertex Energy had a positive return on equity of 0.76% and a negative net margin of 2.76%. On average, research analysts anticipate that Vertex Energy will post -0.2 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in Vertex Energy by 271.0% in the fourth quarter. Bank of New York Mellon Corp now owns 46,360 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 33,864 shares during the last quarter. Redmond Asset Management LLC lifted its position in Vertex Energy by 1.8% in the first quarter. Redmond Asset Management LLC now owns 361,599 shares of the industrial products company’s stock valued at $586,000 after purchasing an additional 6,325 shares during the last quarter. Finally, Cadence Capital Management LLC lifted its position in Vertex Energy by 1.8% in the first quarter. Cadence Capital Management LLC now owns 1,040,961 shares of the industrial products company’s stock valued at $1,686,000 after purchasing an additional 18,302 shares during the last quarter. Institutional investors own 17.90% of the company’s stock.

Vertex Energy Company Profile

Vertex Energy, Inc engages in the recycle of industrial waste streams and off-specification commercial chemical products. It focuses on recycling used motor oil and other petroleum by-product streams. The company operates through the following business divisions: Black Oil, Refining & Marketing and Recovery.

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