5 Most Shorted Oil Stocks

1. Vertex Energy, Inc. (NASDAQ:VTNR)

Number of Hedge Fund Holders: 18
Float Shorted: 34.17%
Stock Price as of November 10: $8.59

Vertex Energy, Inc. (NASDAQ:VTNR) is an environmental services firm that reuses industrial waste streams and off-spec commercial chemical products. The company gathers waste oil from oil change service stations, vehicle repair shops, petroleum refineries, and petrochemical production plants.

In the third quarter earnings published on November 8 by Vertex Energy, Inc. (NASDAQ:VTNR), the EPS totaled $0.22, missing estimates by $0.01. In addition, the $810.2 million revenue jumped 1489.3% year-over-year, missing estimated revenue by $103.47million.

H.C. Wainwright analyst Amit Dayal reduced his price objective on Vertex Energy, Inc. (NASDAQ:VTNR) to $15 from $25 on August 10 and reiterated a ‘Buy’ rating on the stock. The objective reduction was ascribed to lower-than-expected margin performance due to hedging activities taken as part of the Mobile refinery deal.

As this year’s second quarter ended, 18 out of the 895 hedge funds polled by Insider Monkey had invested in Vertex Energy, Inc. (NASDAQ:VTNR). The company’s largest investor is Adam Usdan’s Trellus Management Company, which owns 2.12 million shares that are worth $13.21 million.

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