Verano (OTCMKTS:VRNOF) Stock Price Down 6% – What’s Next?

Verano Holdings Corp. (OTCMKTS:VRNOF)’s stock price dropped 6% during trading on Thursday . The company traded as low as $1.36 and last traded at $1.40. Approximately 8,756 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 617,267 shares. The stock had previously closed at $1.49.

Analysts Set New Price Targets

VRNOF has been the subject of a number of research analyst reports. Cormark raised shares of Verano from a “hold” rating to a “moderate buy” rating in a research report on Monday, August 11th. Canaccord Genuity Group raised shares of Verano to a “strong-buy” rating in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, According to MarketBeat, Verano presently has an average rating of “Strong Buy”.

Verano Price Performance

The company’s 50 day moving average price is $1.42 and its two-hundred day moving average price is $0.92. The firm has a market cap of $535.49 million, a PE ratio of -1.51 and a beta of 0.88. The company has a current ratio of 2.51, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53.

Verano (OTCMKTS:VRNOF) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $202.27 million for the quarter, compared to analysts’ expectations of $211.80 million. Verano had a negative net margin of 40.84% and a negative return on equity of 8.63%. On average, equities research analysts expect that Verano Holdings Corp. will post -0.18 EPS for the current fiscal year.

Verano Company Profile

Verano Holdings Corp. operates as a vertically integrated multi-state cannabis operator in the United States. The company engages in the cultivation, processing, wholesale, and retail distribution of cannabis in Arizona, Arkansas, Connecticut, Florida, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, Ohio, Pennsylvania, and West Virginia.