Vertex Energy, Inc. (NASDAQ:VTNR) Position Boosted by Credit Suisse AG

Credit Suisse AG raised its holdings in shares of Vertex Energy, Inc. (NASDAQ:VTNR – Get Rating) by 95.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 590,810 shares of the industrial products company’s stock after acquiring an additional 288,500 shares during the period. Credit Suisse AG’s holdings in Vertex Energy were worth $3,681,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Aptus Capital Advisors LLC bought a new stake in shares of Vertex Energy during the third quarter valued at about $96,000. Aigen Investment Management LP bought a new stake in shares of Vertex Energy during the 3rd quarter worth about $138,000. Verition Fund Management LLC acquired a new stake in shares of Vertex Energy in the 2nd quarter worth approximately $414,000. Jump Financial LLC bought a new position in shares of Vertex Energy in the third quarter valued at approximately $378,000. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of Vertex Energy during the second quarter valued at approximately $2,672,000. Institutional investors and hedge funds own 63.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on VTNR shares. Craig Hallum upped their target price on Vertex Energy from $12.00 to $15.00 in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Vertex Energy in a research note on Wednesday. UBS Group started coverage on shares of Vertex Energy in a research report on Tuesday, December 13th. They issued a “neutral” rating and a $6.90 price target on the stock. Oppenheimer upgraded shares of Vertex Energy from a “market perform” rating to an “outperform” rating and set a $14.00 price objective for the company in a research report on Wednesday. Finally, StockNews.com upgraded shares of Vertex Energy from a “sell” rating to a “hold” rating in a report on Friday, November 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.34.

Vertex Energy Trading Up 6.9 %

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NASDAQ:VTNR opened at $10.12 on Thursday. The stock has a fifty day simple moving average of $7.18 and a 200 day simple moving average of $7.42. The company has a current ratio of 1.43, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. Vertex Energy, Inc. has a 1-year low of $5.42 and a 1-year high of $18.10.

Insiders Place Their Bets

In other news, CEO Benjamin P. Cowart sold 66,666 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $8.10, for a total transaction of $539,994.60. Following the sale, the chief executive officer now owns 5,650,608 shares in the company, valued at $45,769,924.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 15.90% of the company’s stock.

About Vertex Energy

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Vertex Energy, Inc engages in the recycle of industrial waste streams and off-specification commercial chemical products. The firm focuses on the recycle of used motor oil and other petroleum by-products. It operates through the following segments: Black Oil, Refining and Marketing and Recovery. The Black Oil segment collects and purchases used motor oil from third-party generators, established network of local and regional collectors and sells used motor oil to customers for use as a feedstock or replacement fuel for industrial burners.