Vertex (NASDAQ:VERX) Shares Gap Down - Time to Sell?

Key Points

• Vertex shares gapped down at the open, falling from the prior close of $12.89 to $12.19 before last trading around $12.21.
• Despite the drop, analyst sentiment remains mixed but generally constructive, with several firms maintaining or initiating buy ratings and a consensus target price of $20.20.
• The company’s latest quarter showed modest beats on earnings and revenue, with EPS of $0.17 versus $0.16 expected and revenue up 11.1% year over year to $196.65 million.

Vertex, Inc. (NASDAQ:VERX - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $12.89, but opened at $12.19. Vertex shares last traded at $12.2140, with a volume of 171,382 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VERX shares. Needham & Company LLC reaffirmed a "buy" rating on shares of Vertex in a research report on Monday, June 8th. BMO Capital Markets boosted their price objective on Vertex from $14.00 to $17.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Wall Street Zen raised shares of Vertex from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. TD Cowen began coverage on shares of Vertex in a research note on Monday, June 29th. They issued a "buy" rating and a $14.00 price objective for the company. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $21.00 price target on shares of Vertex in a research report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Vertex presently has a consensus rating of "Hold" and a consensus target price of $20.20.

Vertex Stock Performance

The stock has a market cap of $1.96 billion, a P/E ratio of -242.22 and a beta of 0.83. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50 day simple moving average of $12.57 and a 200-day simple moving average of $13.98.

Vertex (NASDAQ:VERX - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. The company had revenue of $196.65 million during the quarter, compared to analysts' expectations of $194.82 million. Vertex had a negative net margin of 0.84% and a positive return on equity of 26.04%. The firm's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. On average, equities analysts expect that Vertex, Inc. will post 0.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vertex

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new position in Vertex in the 4th quarter worth approximately $32,000. Empowered Funds LLC bought a new stake in Vertex in the 4th quarter worth $45,000. Raymond James Financial Inc. purchased a new position in shares of Vertex in the second quarter valued at about $54,000. Advisors Asset Management Inc. boosted its holdings in shares of Vertex by 36.9% during the fourth 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 period. Finally, Assetmark Inc. increased its holdings 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 own 70.32% of the company's stock.

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.

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