BofA Securities, Inc. recently announced the acquisition of new stake in Vertex Energy Inc. (NASDAQ:VTNR). The institutional investor has increased its shareholding in the Energy company by 164.44% to 4.37 million shares with purchase of 2.72 million shares. This fresh investment now brings its stake to 5.78% valued currently at $41.4 million. In addition, BlackRock Fund Advisors raised its holdings by 0.44 million to 3.58 million shares. And The Vanguard Group, Inc. has lifted its position by 11.91% or 0.38 million shares – to 3.55 million shares.
With over 4.5 million Vertex Energy Inc. (VTNR) shares trading Friday and a closing price of $8.53 on the day, the dollar volume was approximately $38.35 million. The shares have shown a positive half year performance of 1.55% and its price on 03/10/23 lost nearly -8.82%. Currently, there are 75.72M common shares owned by the public and among those 61.26M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for VTNR have a consensus price objective of $12.79. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $7.50. The average price target is 33.31% above its recent price level and a downside to the estimated low will see the stock lose -13.73% over that period. But an upside of 43.13% will see the stock hit the forecast high price target while median target price for the stock is $15.00.
Insiders at the company have transacted a total of 17 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 275,750 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 649,911 shares.
The top 3 mutual fund holders in Vertex Energy Inc. are SPDR S&P Oil & Gas Exploration &, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. SPDR S&P Oil & Gas Exploration & owns 6.39 million shares of the company’s stock, all valued at over $60.52 million. The company sold 11769.0 shares recently to bring their total holdings to about 8.45% of the shares outstanding. iShares Russell 2000 ETF sold 3798.0 shares to bring its total holdings to over 1.2 million shares at a value of $11.38 million. iShares Russell 2000 ETF now owns shares totaling to 1.59% of the shares outstanding.
Shares of Vertex Energy Inc. (NASDAQ: VTNR) opened at $9.18, down -$0.17 from a prior closing price of $9.35. However, the script later moved the day high at 9.33, down -8.82%. The company’s stock has a 5-day price change of -23.01% and 27.69% over the past three months. VTNR shares are trading 37.58% year to date (YTD), with the 12-month market performance up to 4.92% higher. It has a 12-month low price of $5.42 and touched a high of $18.10 over the same period. VTNR has an average intraday trading volume of 2.74 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.18%, 12.28%, and -4.65% respectively.
Institutional ownership of Vertex Energy Inc. (NASDAQ: VTNR) shares accounts for 54.80% of the company’s 75.72M shares outstanding. Mutual fund holders own 21.79%, while other institutional holders and individual stakeholders account for 32.18% and 11.26% respectively.
It has a market capitalization of $707.90M and a beta (3y monthly) value of 2.11. The earnings-per-share (ttm) stands at -$0.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.53% over the week and 7.13% over the month.
Analysts forecast that Vertex Energy Inc. (VTNR) will achieve an EPS of $0.34 for the current quarter, $0.14 for the next quarter and $1.26 for 2023. The lowest estimate earnings-per-share for the quarter is $0.09 while analysts give the company a high EPS estimate of $0.67. Comparatively, EPS for the current quarter was -$0.15 a year ago. Earnings per share for the fiscal year are expected to increase by 50.30%, and 97.80% over the next financial year. EPS should grow at an annualized rate of 20.00% over the next five years, compared to 7.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Vertex Energy Inc. (VTNR) as a “Strong Buy” at a consensus score of 1.80. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the VTNR, a number of firms have released research notes about the stock. TD Cowen stated their Market Perform rating for the stock in a research note on March 10, 2023, with the firm’s price target at $8. Oppenheimer coverage for the Vertex Energy Inc. (VTNR) stock in a research note released on March 01, 2023 offered a Outperform rating with a price target of $14. Northland Capital was of a view on February 08, 2023 that the stock is Outperform, while UBS gave the stock Neutral rating on December 14, 2022, issuing a price target of $6.90. Oppenheimer on their part issued Perform rating on August 10, 2022.
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