Cadence Capital Management LLC acquired a new stake in Vertex Energy Inc (NASDAQ:VTNR) in the 3rd quarter, HoldingsChannel reports. The fund acquired 943,524 shares of the industrial products company’s stock, valued at approximately $1,613,000.
Separately, Ardsley Advisory Partners purchased a new position in Vertex Energy in the 2nd quarter worth approximately $175,000. 11.77% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on VTNR. Zacks Investment Research cut Vertex Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 16th. ValuEngine raised Vertex Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Finally, Roth Capital reaffirmed a “neutral” rating on shares of Vertex Energy in a research note on Thursday, September 13th.
Vertex Energy (NASDAQ:VTNR) last issued its quarterly earnings data on Tuesday, November 6th. The industrial products company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.12). The business had revenue of $50.63 million during the quarter, compared to the consensus estimate of $40.10 million. Vertex Energy had a negative return on equity of 5.50% and a negative net margin of 1.33%. Research analysts forecast that Vertex Energy Inc will post -0.08 earnings per share for the current year.
Vertex Energy Profile
Vertex Energy, Inc, an environmental services company, provides a range of services designed to aggregate, process, and recycle industrial and commercial waste systems in 15 states, primarily in the Gulf Coast, Midwest, and Mid-Atlantic regions of the United States. The company operates in three divisions: Black Oil, Refining and Marketing, and Recovery.
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