VerifyMe, Inc. (NASDAQ:VRME) Sees Large Decrease in Short Interest

VerifyMe, Inc. (NASDAQ:VRME) saw a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 54,630 shares, a decrease of 47.5% from the May 14th total of 103,971 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 79,575 shares, the days-to-cover ratio is currently 0.7 days.

VerifyMe Price Performance

Shares of VRME opened at $0.70 on Tuesday. The business’s fifty day moving average price is $0.75 and its 200 day moving average price is $0.86. VerifyMe has a 12-month low of $0.59 and a 12-month high of $1.51. The stock has a market capitalization of $9.12 million, a PE ratio of -1.83 and a beta of 0.34.

VerifyMe (NASDAQ:VRME) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The firm had revenue of $1.77 million for the quarter, compared to the consensus estimate of $2.23 million. VerifyMe had a negative return on equity of 13.70% and a negative net margin of 36.55%.

Institutional Investors Weigh In On VerifyMe

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in VerifyMe by 51.8% in the fourth quarter. State Street Corp now owns 77,359 shares of the company’s stock valued at $46,000 after buying an additional 26,400 shares during the last quarter. LPL Financial LLC lifted its stake in VerifyMe by 71.4% in the fourth quarter. LPL Financial LLC now owns 380,812 shares of the company’s stock valued at $229,000 after buying an additional 158,697 shares during the last quarter. Quantum Financial Planning Services Inc. bought a new stake in VerifyMe in the fourth quarter valued at $42,000. Finally, Two Sigma Investments LP lifted its stake in VerifyMe by 235.5% in the third quarter. Two Sigma Investments LP now owns 35,321 shares of the company’s stock valued at $31,000 after buying an additional 24,793 shares during the last quarter. 8.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of VerifyMe in a research note on Monday, April 20th. Wall Street Zen cut VerifyMe from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $1.50.

About VerifyMe

VerifyMe, Inc (NASDAQ: VRME) provides authentication and brand protection solutions to help companies secure products, packaging and digital credentials against counterfeiting, diversion and tampering. The company’s offerings combine physical authentication technologies—such as secure printing, invisible inks, RFID/NFC tags and direct part marking—with cloud-based software to create end-to-end track-and-trace capabilities. These integrated solutions enable customers to verify authenticity at every stage of the supply chain, from manufacturing through distribution and retail.

Key product lines include on-demand secure printers and customized label materials, embedded secure elements for item-level tagging, and a centralized data management platform that supports real-time analytics, consumer engagement and regulatory compliance.