Today, we feature Vertex Energy Inc (NASDAQ: VTNR), a waste management company, as the top momentum gainer since the stock gained more than 19% touching its new intraday 52-week highs during the last two consecutive trading days with far more shares changing hands than in a normal session. During the last trading session, VTNR was among the top gainers in the U.S. industrial sector after gaining 19.1% and closed at its 52-week high of $5.54 while recording significant volumes of 550,058 shares. During the past 5 trading sessions, VTNR surged 49.7% with daily average traded volumes of 224,936 shares, while the stock has accumulated over 46% during the past one month with daily average volumes of 60,834 shares. The stock gained momentum after VTNR announced an asset purchase agreement with Omega Holdings Company, LLC to acquire certain assets related to the re-refining and processing of used motor oil and the distribution of fuel oils and base lubricating oils for $30.8 million in cash, 2.0 million shares of Vertex’s common stock and the approximately $9.7 million in capital leases and other liabilities.
Company Description:
Vertex Energy Inc (NASDAQ: VTNR) an environmental services company that recycles industrial waste streams and off-specification commercial chemical products. The company manages the transport, storage and delivery of the aggregated feedstock and product streams to end users.
1-Year Stock Chart:
Source: Bloomberg
