Vertex Energy Inc (VTNR)

Vertex Energy Inc (VTNR) stock dropped by 22.16% due to the company's downgrade by investment analysts at Northland Securities, which led to a negative reaction of investors. Here are the key points:

• Downgrade by Northland Securities: Northland Securities, an investment analyst firm, downgraded Vertex Energy (VTNR) from an Outperform rating to a Market perform rating in a research note issued to investors.
• Price Target As part of their analysis, Northland Securities assigned a price objective of $2.00 on VTNR stock. This price objective indicates a potential upside of 8.11% from the company's current stock price.
• Market Reaction: Following the downgrade, VTNR stock experienced a significant drop, falling by 22.16%. The stock reached a 2-year low, suggesting that investors reacted negatively to the rating change and the associated price objective. Investors often pay close attention to analyst ratings and price targets, as they can influence market sentiment and trading decisions. Downgrades, especially when they involve a change from "outperform" to "market perform" or lower, can lead to sell-offs in a company's stock as investors adjust their expectations.

Shares of Vertex Energy Inc (VTNR) dropped by 4.95% from $3.64 to $3.46 in the trading on Tuesday, December 19, 2023. The reason why VTNR down today is due to an analyst downgrade by Stifel's Michael E. Hoffman. The analyst downgraded VTNR from Buy to Hold and lowered the price target from $6 to $4.

• Factors Behind Downgrade: The downgrade is attributed to challenges in the refining market, with conventional refining selling prices facing pressure and profitability trending toward breakeven to modest profit. Volatility in conventional refining profits and unfavorable factors in the renewable diesel (RD) business also contributed to the downgrade.
• Revenue Estimate Adjustment: As a result, revenue estimates for VTNR were revised down to $3.25 billion for FY23 (from $3.29 billion) and $3.27 billion for FY24 (from $3.42 billion). These factors drove the analyst's decision to adjust VTNR's rating and price target.

Vertex Energy Inc Stock (VTNR) dropped by 4.92% from $4.27 to $4.06 in the trading on Tuesday November 07, 2023. The reason why VTNR stock down today is due to the Q3 2023 Earnings. Vertex Energy Inc reports Q3 2023 net income of $19.8 million, down from $22.2 million in Q3 2022. Despite the decrease in net income, Vertex saw a significant increase in its Adjusted EBITDA, which was $51.5 million for the third quarter of 2023, compared to Adjusted EBITDA of $1.6 million in the prior-year period.

Vertex Energy Inc Stock (VTNR) dropped by 24.1% from $6.57 to $4.99 in the trading on Tuesday July 25, 2023. The reasons why VTNR stock down today are due to lower fuel prices and revised guidance. Vertex Energy's sell-off followed the company's announcement of lower fuel prices in Q2 and a revised guidance below expectations. Vertex's expected Q2 capture rate of 30%-35% fell short of the previously forecast 50%-54% range, reflecting volatile fuel market prices. The company also experienced unexpected price erosion for products outside the benchmark Gulf Coast 2-1-1 crack spread. Operating expenses are estimated at $4.15-$4.25/bbl, exceeding prior guidance, while capital spending remains unchanged at $30M-$35M.

Vertex Energy Inc Stock (VTNR) dropped by 4.29% from $6.52 to $6.24 in the trading on Friday July 14, 2023. The reason why VTNR stock down today is due to Oppenheimer's price target downgrade. This downward movement followed the announcement by Oppenheimer, a prominent investment bank, that they were lowering their price target on VTNR shares from $13.00 to $10.00. Despite this price target downgrade, Oppenheimer maintained their "outperform" rating on Vertex Energy. This indicates that they still believe the company has the potential to outperform the broader market, despite the recent dip in stock price.