Vertex (NASDAQ:VERX) Reaches New 52-Week Low – Time to Sell?

Vertex, Inc. (NASDAQ:VERX)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $10.41 and last traded at $10.3650, with a volume of 498914 shares changing hands. The stock had previously closed at $11.12.

Analyst Upgrades and Downgrades

VERX has been the subject of several recent analyst reports. Piper Sandler lifted their price objective on shares of Vertex from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Morgan Stanley reiterated an “overweight” rating and issued a $19.00 price objective on shares of Vertex in a report on Friday, May 8th. Citigroup raised their target price on Vertex from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. DA Davidson set a $15.00 price target on shares of Vertex in a research note on Friday, May 8th. Finally, BMO Capital Markets increased their price target on shares of Vertex from $14.00 to $17.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.93.

Vertex Price Performance

The stock has a market cap of $1.81 billion, a PE ratio of -221.08 and a beta of 0.82. The company has a 50-day simple moving average of $12.68 and a 200-day simple moving average of $14.99. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.86 and a quick ratio of 0.86.

Vertex (NASDAQ:VERX) last released its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $196.65 million for the quarter, compared to the consensus estimate of $194.82 million. Vertex had a positive return on equity of 26.04% and a negative net margin of 0.84%.The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. Sell-side analysts anticipate that Vertex, Inc. will post 0.52 EPS for the current fiscal year.

Institutional Trading of Vertex

A number of hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC acquired a new stake in shares of Vertex during the fourth quarter worth $32,000. Empowered Funds LLC acquired a new stake in shares of Vertex during the 4th quarter worth approximately $45,000. Raymond James Financial Inc. bought a new stake in shares of Vertex in the 2nd quarter worth approximately $54,000. Advisors Asset Management Inc. lifted its holdings in shares of Vertex by 36.9% in the 4th quarter. Advisors Asset Management Inc. now owns 3,320 shares of the company’s stock worth $66,000 after purchasing an additional 895 shares during the last quarter. Finally, Assetmark Inc. boosted its position in Vertex by 49.1% during the 4th quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock valued at $83,000 after purchasing an additional 1,376 shares during the period. Institutional investors and hedge funds own 70.32% of the company’s stock.

About Vertex

Vertex Energy, Inc (NASDAQ: VERX) is a specialty refiner and marketer of transportation fuels and petrochemical feedstocks in the United States. The company collects and processes a variety of waste petroleum products, including used motor oil and industrial lubricants, which it converts into ultra-low-sulfur diesel, asphalt, and other refined products. By leveraging proprietary re-refining technologies and strategic feedstock sourcing, Vertex Energy aims to deliver cost-effective, lower-carbon fuel solutions to wholesale and retail customers across the country.

Headquartered in Houston, Texas, Vertex operates a network of refining and blending facilities in key regions, including the Central, Northeast and Mid-Atlantic markets.