Tower Research Capital LLC TRC Acquires 22,631 Shares of Vertex Energy, Inc. (NASDAQ:VTNR)

Tower Research Capital LLC TRC grew its holdings in Vertex Energy, Inc. (NASDAQ:VTNR – Get Rating) by 313.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,840 shares of the industrial products company’s stock after acquiring an additional 22,631 shares during the period. Tower Research Capital LLC TRC’s holdings in Vertex Energy were worth $186,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CI Investments Inc. bought a new position in Vertex Energy in the second quarter worth approximately $53,000. Legal & General Group Plc bought a new position in Vertex Energy in the second quarter worth approximately $60,000. Janney Montgomery Scott LLC bought a new position in Vertex Energy in the third quarter worth approximately $65,000. Raymond James & Associates bought a new stake in shares of Vertex Energy during the 3rd quarter valued at $71,000. Finally, Bank of America Corp DE bought a new stake in shares of Vertex Energy during the 1st quarter valued at $85,000. 63.44% of the stock is currently owned by institutional investors.

Insider Activity at Vertex Energy

In other Vertex Energy news, CEO Benjamin P. Cowart sold 66,667 shares of Vertex Energy stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $10.05, for a total value of $670,003.35. Following the completion of the transaction, the chief executive officer now directly owns 5,583,941 shares of the company’s stock, valued at approximately $56,118,607.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Vertex Energy news, CEO Benjamin P. Cowart sold 66,666 shares of Vertex Energy stock in a transaction on Monday, February 27th. The shares were sold at an average price of $8.10, for a total value of $539,994.60. Following the completion of the transaction, the chief executive officer now directly owns 5,650,608 shares of the company’s stock, valued at approximately $45,769,924.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Benjamin P. Cowart sold 66,667 shares of Vertex Energy stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $10.05, for a total transaction of $670,003.35. Following the completion of the transaction, the chief executive officer now directly owns 5,583,941 shares of the company’s stock, valued at $56,118,607.05. The disclosure for this sale can be found here. 16.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VTNR. Northland Securities began coverage on shares of Vertex Energy in a research report on Wednesday, February 8th. They set an “outperform” rating and a $15.00 price objective on the stock. Craig Hallum raised their price objective on shares of Vertex Energy from $12.00 to $15.00 in a research report on Tuesday, February 28th. Oppenheimer upgraded shares of Vertex Energy from a “market perform” rating to an “outperform” rating and set a $14.00 price objective on the stock in a research report on Wednesday, March 1st. UBS Group began coverage on shares of Vertex Energy in a research report on Tuesday, December 13th. They set a “neutral” rating and a $6.90 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Vertex Energy in a research report on Wednesday, March 1st. 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $15.34.

Vertex Energy Stock Up 2.2 %

VTNR opened at $10.19 on Wednesday. The company has a fifty day moving average of $7.52 and a 200 day moving average of $7.51. Vertex Energy, Inc. has a fifty-two week low of $5.42 and a fifty-two week high of $18.10. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 1.30.

About Vertex Energy

(Get Rating)

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.