Why Vertex Energy Stock Popped 15% Today
Shares of Vertex Energy (NASDAQ: VTNR) zoomed on Friday and were trading 10% higher as of 11 a.m. ET after the company projected better-than-expected throughput volumes for its third quarter. The energy stock hit a high of 15.2% in early-morning trading.
Vertex Energy, which calls itself an "energy transition company," said it expects to report throughput volumes of 80,000 barrels per day (bpd) from its Alabama refinery for the third quarter. Vertex Energy previously projected volumes between 74,000 bpd and 77,000 bpd; it said the higher volumes were a result of the company's focus on strengthening its feedstock procurement program, which it initiated in the second quarter in response to supply chain challenges.
Vertex Energy also expects finished fuel products to account for 65% to 67% of its total production volumes in the third quarter, compared with the company's initial estimate of 59% to 63%.
Source Fool.com
Vertex Pharmaceuticals Inc. Stock
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As a result the target price of 475 € shows a slightly positive potential of 4.27% compared to the current price of 455.55 € for Vertex Pharmaceuticals Inc..
