Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Vertex Energy Inc shares valued at $2,610 were sold by Khoury Odeh on Apr 10 ’24. At $1.16 per share, Khoury Odeh sold 2,250 shares. The insider’s holdings dropped to 17,784 shares worth approximately $19562.4 following the completion of this transaction.
Also, Stratton Christopher Allen sold 100,000 shares, netting a total of over 392,600 in proceeds. Following the sale of shares at $3.93 each, the insider now holds 88,405 shares.
Before that, Rhame James Gary had added 4,000 shares to its account. In a trade valued at $25,310, the Chief Operating Officer bought Vertex Energy Inc shares for $6.33 each. Upon closing the transaction, the insider’s holdings increased to 4,000 shares, worth approximately $16112.800000000001.
As published in a research note from Northland Capital on January 24, 2024, Vertex Energy Inc [VTNR] has been rated down from an Outperform to a Market perform and the price target has been revised to $2. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid December. As of July 26, 2023, Oppenheimer has decreased its “an Outperform” rating to a “Perform” for VTNR. Earlier on March 10, 2023, TD Cowen initiated its rating. Their recommendation was “a Market perform” for VTNR stock.
Analyzing VTNR Stock Performance
During the last five days, there has been a drop of approximately -16.03%. Over the course of the year, Vertex Energy Inc shares have dropped approximately -67.55%. Shares of the company reached a 52-week high of $3.2400 on 01/02/24 and a 52-week low of $1.0600 on 04/11/24. A 50-day SMA is recorded $1.3979, while a 200-day SMA reached $3.5146. Nevertheless, trading volume fell to 1.93 million shares from 2.2 million shares the previous day.
Support And Resistance Levels for Vertex Energy Inc (VTNR)
According to the 24-hour chart, there is a support level at 1.0583, which, if violated, would cause prices to drop to 1.0167. In the upper region, resistance lies at 1.1433. The next price resistance is at 1.1867. RSI (Relative Strength Index) is 33.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1586, which suggests the price will decrease in the coming days. Percent R is at 90.70%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Vertex Energy Inc subject to short interest?
Stocks of Vertex Energy Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.46 million shares to 17.65 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 18.11 million shares. A decline of -2.61% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.58 of the overall float, the days-to-cover ratio (short ratio) decline to 6.58.
