Home Top Movers Here is why Vertex Energy Inc (VTNR) stock skyrocketed in the after-hours...

Here is why Vertex Energy Inc (VTNR) stock skyrocketed in the after-hours on Wednesday?

Vertex Energy Inc. (VTNR) shares soared 151.12% in after-market on Wednesday, May 26, 2021, and closed the day at $4.47 per share. Earlier, VTNR’s stock gained 2.01% to close Wednesday’s session at $1.78. VTNR shares have gained 165.32% over the last 12 months, and they have moved down 0.56% in the past week. Over the past three months, the stock went up 6.59%, while over the past six months, it has added 191.80%.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Let’s check out what’s going on with Vertex Energy Inc.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

Acquisition of Alabama Refinery

On May 26, 2021, Vertex Energy, Inc entered into a definitive agreement to acquire the Mobile refinery for $75 million, located in Mobile, Alabama from Equilon Enterprises LLC d/b/a Shell Oil Products US, Shell Oil Company, and Shell Chemical LP (“Shell”), subsidiaries of Royal Dutch Shell plc.

Read More

New appointment

On May 18, 2021, Vertex Energy, Inc appointed Bart Rice as Division President of Renewable and Conventional Fuels for Vertex.

Rice has 40 years of energy industry experience and he joined Vertex in early 2000. Before joining Vertex, Rice served in executive leadership roles with Rice Oil, Allied Energy Company, Crystal Energy LLC, Division President of Emerge Energy Services LP, and Joint Venture Partner with Lansing Trade Group and Andersons, Inc.

Financial results announcement

On May 13, 2021, Vertex Energy, Inc reported its financial results for the first quarter of 2021 ended March 31, 2021.

Q1 2021 financial highlights

  • Vertex Energy reported anet income of $3.0 million in Q1 2021 compared to $2.4 million in Q1 2020.
  • In Q1 2021, the company earned a revenue of $58.0 million compared to $36.2 million in Q1 2020.
  • Total operating expenses were $8.4 million in the first quarter of 2021 compared to $7.16 million in Q1 2020.
  • Net income attributable to Vertex Energy was $1.0 million compared to $2.8 million in Q1 2020.
  • Income (loss) per share was $0.01 per basic and diluted share in Q1 2021 compared to $0.21 per basic and diluted share in Q1 2020.
  • Adjusted EBITDA was$6.5 million in Q1 2021 compared to $1.65 million in Q1 2020.
  • The company had total cash and availability on its lending facility of $12.5 million and $3.9 million on March 31, 2021.

The financial outlook for Q2 2021

Vertex Energy is expecting Adjusted EBITDA in the range of $2.5 million to $3.0 million for Q2 2021.

Processing & storage expansion in Louisiana

On March 30, 2021, Vertex Energy, Inc commenced construction on a new facility, located adjacent to the newly revitalized Myrtle Grove complex in Belle Chasse, Louisiana.

The new facility is designed to recover distressed hydrocarbon streams from tankage and barges.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Conclusion

The VTNR stock soared significantly in the after-hours after the company announced the acquisition of the Alabama refinery which is the biggest acquisition till now by the company. VTNR stock can continue its positive momentum on Thursday as well.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Aprea Therapeutics Inc. (APRE) stock soars during current market trading. What’s the update?

Aprea Therapeutics Inc. (NASDAQ: APRE) stock gained by 41.03% at the last check in the current market trading. Aprea Therapeutics is a pharmaceutical business...

Roblox Corp. (NASDAQ: RBLX) stock falls during pre-market trading session. What’s happening?

Roblox Corp. (NASDAQ: RBLX) stock gained by 2.28% at last close while the RBLX stock price declines by 8.13% in the pre-market trading session....

Can-Fite BioPharma Inc. (CANF) stock soars during current market. Why so?

Can-Fite BioPharma Inc. (NASDAQ: CANF) stock gained by 4.42% in the current market trading session. Can-Fite BioPharma Ltd. is a medication research company in...

UXIN stock surges during current market. Here’s to know why?

Uxin Ltd. (NASDAQ: UXIN) stock gains by 14.67% at last check during current market trading. In China, Uxin Limited is a prominent online used...

Opgen Inc. (OPGN) stock surged during pre-market session. What’s driving it high?

Opgen Inc. (NASDAQ: OPGN) stock declined by 1.84% at the last close whereas the OPGN stock price gains by 22.07% in the pre-market trading...

Aprea Therapeutics Inc. (APRE) stock soars during current market trading. What’s the update?

Aprea Therapeutics Inc. (NASDAQ: APRE) stock gained by 41.03% at the last check in the current market trading. Aprea Therapeutics is a pharmaceutical business...

TAL Education Group (TAL) stock is tumbling today: What’s Going on?

Shares of the TAL Education Group (TAL) stock were tumbling in the current market trading session today on June 16, 2021, without any obvious...

SPI Energy Inc. (SPI) stock surged in the current market trading. Here’s the update

SPI Energy Inc. (NASDAQ: SPI) stock soars by 15.42% during the current market trading session. SPI Energy is an international renewable energy company that...

Related News

Applied UV, Inc. (AUVI) stock is Popping High today: Here’s to know why

Applied UV, Inc. (AUVI) stock announced today that its SteriLumen Lumicide™ Ribbon which is its proprietary connected UVC disinfection platform for surface disinfection can...

TAL Education Group (TAL) stock is tumbling today: What’s Going on?

Shares of the TAL Education Group (TAL) stock were tumbling in the current market trading session today on June 16, 2021, without any obvious...

Why Kindred Biosciences, Inc. (KIN) stock is soaring today?

Shares of the Kindred Biosciences, Inc. (KIN) stock continuing the rising trend in pre-market today on June 16, 2021, following the announcement of the...

Ampio Pharmaceuticals Inc. (AMPE) stock fell during pre-market trading. Here’s to know why?

Ampio Pharmaceuticals Inc. (NASDAQ: AMPE) stock gained by 4.71% at last close whereas the AMPE stock price declines by 2.65% in the pre-market trading...

Aptinyx Inc. (APTX) stock fell during after-hour. Here’s to know why?

Aptinyx Inc. (NASDAQ: APTX) stock declined by 0.29% at last close while the APTX stock price has been observed falling more during the after-hour...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam