Zacks Investment Research upgraded shares of Vertex Energy (NASDAQ:VTNR) from a hold rating to a buy rating in a research note issued to investors on Saturday, Zacks.com reports. The firm currently has $1.25 price objective on the industrial products company’s stock.
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. “
Shares of NASDAQ VTNR opened at $1.04 on Friday. The business has a fifty day simple moving average of $1.19 and a 200 day simple moving average of $1.38. The company has a current ratio of 0.84, a quick ratio of 0.59 and a debt-to-equity ratio of 2.13. The firm has a market capitalization of $46.81 million, a price-to-earnings ratio of -4.52 and a beta of 1.48. Vertex Energy has a one year low of $0.98 and a one year high of $1.87.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Vertex Energy by 290.4% in the second quarter. Vanguard Group Inc. now owns 2,053,551 shares of the industrial products company’s stock worth $3,101,000 after buying an additional 1,527,590 shares during the last quarter. BlackRock Inc. increased its stake in shares of Vertex Energy by 33.4% in the second quarter. BlackRock Inc. now owns 100,143 shares of the industrial products company’s stock worth $152,000 after buying an additional 25,053 shares during the last quarter. Finally, Segment Wealth Management LLC increased its stake in shares of Vertex Energy by 334.0% in the second quarter. Segment Wealth Management LLC now owns 469,561 shares of the industrial products company’s stock worth $709,000 after buying an additional 361,359 shares during the last quarter. Hedge funds and other institutional investors own 20.57% of the company’s stock.
About Vertex Energy
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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