Vertex, Inc. (NASDAQ:VERX) Short Interest Update

Vertex, Inc. (NASDAQ:VERX) saw a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 8,719,048 shares, an increase of 15.0% from the February 12th total of 7,582,096 shares. Based on an average daily trading volume, of 2,790,420 shares, the days-to-cover ratio is presently 3.1 days. Approximately 9.6% of the shares of the company are sold short. Approximately 9.6% of the shares of the company are sold short. Based on an average daily trading volume, of 2,790,420 shares, the days-to-cover ratio is presently 3.1 days.

Vertex Stock Performance

NASDAQ:VERX opened at $13.25 on Tuesday. The stock has a market capitalization of $2.12 billion, a P/E ratio of 331.33, a price-to-earnings-growth ratio of 1.58 and a beta of 0.64. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.30. Vertex has a 1 year low of $11.86 and a 1 year high of $42.44. The firm has a 50 day moving average of $16.16 and a 200-day moving average of $20.17.

Vertex (NASDAQ:VERX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17. Vertex had a return on equity of 24.70% and a net margin of 0.96%.The business had revenue of $194.71 million for the quarter, compared to analyst estimates of $194.33 million. During the same period in the prior year, the company earned $0.15 EPS. Vertex’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Vertex will post 0.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Eric C. Andersen bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were acquired at an average price of $12.91 per share, with a total value of $516,400.00. Following the completion of the transaction, the director owned 150,341 shares of the company’s stock, valued at $1,940,902.31. The trade was a 36.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Westphal bought 247,740 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were bought at an average price of $13.08 per share, with a total value of $3,240,439.20. Following the completion of the purchase, the insider owned 247,740 shares in the company, valued at approximately $3,240,439.20. The trade was a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 437,740 shares of company stock valued at $5,636,339. Corporate insiders own 43.25% of the company’s stock.

Institutional Trading of Vertex

A number of hedge funds and other institutional investors have recently made changes to their positions in VERX. DLD Asset Management LP bought a new position in shares of Vertex in the second quarter valued at about $300,348,000. Vanguard Group Inc. lifted its position in shares of Vertex by 9.0% during the third quarter. Vanguard Group Inc. now owns 8,387,126 shares of the company’s stock worth $207,917,000 after purchasing an additional 689,143 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Vertex by 231.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,567,902 shares of the company’s stock valued at $88,448,000 after purchasing an additional 2,490,097 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of Vertex by 9.2% during the third quarter. Wasatch Advisors LP now owns 2,728,504 shares of the company’s stock valued at $67,640,000 after purchasing an additional 229,774 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Vertex by 76.7% in the third quarter. Wellington Management Group LLP now owns 2,161,501 shares of the company’s stock valued at $53,584,000 after purchasing an additional 937,905 shares in the last quarter. 70.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on VERX. Piper Sandler dropped their price objective on shares of Vertex from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 12th. Citizens Jmp reduced their target price on shares of Vertex from $37.00 to $25.00 and set a “market outperform” rating for the company in a research note on Thursday, February 12th. Stifel Nicolaus set a $16.00 target price on Vertex in a research report on Wednesday, February 11th. Citigroup lowered their price target on Vertex from $22.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, February 12th. Finally, The Goldman Sachs Group cut their price target on Vertex from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.07.

Vertex Company Profile

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.