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Is Vertex Energy Inc. (NASDAQ) Bullish Or Bearish In 2023?

Vertex Energy Inc. (NASDAQ:VTNR) shares, rose in value on Wednesday, 05/24/23, with the stock price up by 0.72% to the previous day’s close as strong demand from buyers drove the stock to $6.96.

Actively observing the price movement in the last trading, the stock closed the session at $6.91, falling within a range of $6.74 and $7.00. The value of beta (5-year monthly) was 2.08. Referring to stock’s 52-week performance, its high was $18.10, and the low was $5.42. On the whole, VTNR has fluctuated by -10.88% over the past month.

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With the market capitalization of Vertex Energy Inc. currently standing at about $545.32 million, investors are eagerly awaiting this quarter’s results, scheduled for May 09, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.09, which is expected to increase to $0.75 for fiscal year $1.26 and then to about $1.21 by fiscal year 2024. Data indicates that the EPS growth is expected to be 1,900.00% in 2024, while the next year’s EPS growth is forecast to be -4.00%.

Analysts have estimated the company’s revenue for the quarter at $735.35 million, with a low estimate of $606.5 million and a high estimate of $831.1 million. According to the average forecast, sales growth in current quarter could jump down -25.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $3.03 billion, representing an increase of 8.40% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that VTNR’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of VTNR currently trading nearly -2.01% and -12.90% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 44.70, while the 7-day volatility ratio is showing 4.26% which for the 30-day chart, stands at 5.99%. Furthermore, Vertex Energy Inc. (VTNR)’s beta value is 2.11, and its average true range (ATR) is 0.47.

A comparison of Vertex Energy Inc. (VTNR) with its peers suggests the former has fared considerably weaker in the market. VTNR showed an intraday change of 0.72% in last session, and over the past year, it shrunk by -53.69%%. In comparison, Heritage-Crystal Clean Inc (HCCI) has moved lower at -1.51% on the day and was up 28.50% over the past 12 months. Additionally, there is a loss of -1.68% for Perma-Fix Environmental Services Inc. (PESI) in last trading while the stock has seen an overall depriciation of 96.29%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.73%. Meanwhile, the Dow Jones Industrial Slipped by -0.77%.

Data on historical trading for Vertex Energy Inc. (NASDAQ:VTNR) indicates that the trading volumes over the past 10 days have averaged 1.85 million and over the past 3 months, they’ve averaged 2.89 million. According to company’s latest data on outstanding shares, there are 75.69 million shares outstanding.

Nearly 0.50% of Vertex Energy Inc.’s shares belong to company insiders and institutional investors own 54.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 19.02 million shares as on Apr 27, 2023, resulting in a short ratio of 8.65. According to the data, the short interest in Vertex Energy Inc. (VTNR) stood at 25.04% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 21.14 million. The stock has risen by 12.26% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the VTNR stock heading into the next quarter.

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