Vertex Energy Inc (NASDAQ:VTNR) Sees Significant Growth in Short Interest

Vertex Energy Inc (NASDAQ:VTNR) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 1,037,000 shares, an increase of 8.0% from the May 30th total of 960,500 shares. Based on an average trading volume of 74,100 shares, the short-interest ratio is currently 14.0 days. Currently, 5.4% of the company’s shares are short sold.

A number of hedge funds have recently bought and sold shares of the business. Cadence Capital Management LLC lifted its holdings in Vertex Energy by 1.8% during the first quarter. Cadence Capital Management LLC now owns 1,040,961 shares of the industrial products company’s stock worth $1,686,000 after acquiring an additional 18,302 shares in the last quarter. Redmond Asset Management LLC lifted its holdings in shares of Vertex Energy by 1.8% in the first quarter. Redmond Asset Management LLC now owns 361,599 shares of the industrial products company’s stock valued at $586,000 after purchasing an additional 6,325 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Vertex Energy by 271.0% in the fourth quarter. Bank of New York Mellon Corp now owns 46,360 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 33,864 shares in the last quarter. Hedge funds and other institutional investors own 17.90% of the company’s stock.

Separately, ValuEngine upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st.

VTNR stock opened at $1.48 on Wednesday. The business’s 50-day simple moving average is $1.43. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $59.60 million, a price-to-earnings ratio of -6.43 and a beta of 1.64. Vertex Energy has a 1-year low of $0.85 and a 1-year high of $2.04.

Vertex Energy (NASDAQ:VTNR) last posted its earnings results on Wednesday, May 8th. The industrial products company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. The firm had revenue of $39.32 million for the quarter, compared to analyst estimates of $44.30 million. Vertex Energy had a positive return on equity of 0.76% and a negative net margin of 2.76%. On average, sell-side analysts expect that Vertex Energy will post -0.17 earnings per share for the current year.

Vertex Energy Company Profile

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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