Vertex Energy, Inc. VTNR shares are trading higher after the company announced it will acquire a Alabama refinery and related logistics assets for $75 million.
The company announced it anticipates $3 billion in annual revenue and more than $400 million in gross profit by the end of 2023.
Following the acquisition, Craig-Hallum issues positive commentary on Vertex Energy and believes the deal could drive $12-$15 per share in value.
Vertex Energy Inc is an environmental services company that recycles industrial waste streams and off-specification commercial chemical products.
Vertex Energy's stock was trading approximately 118% higher at $3.89 per share at the time of publication. The company has a 52-week high of $4.70 and a 52-week low of $0.40.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
