Verano (OTCMKTS:VRNOF) Trading Down 7.2% - Here's Why

Shares of Verano Holdings Corp. (OTCMKTS:VRNOF - Get Free Report) fell 7.2% during trading on Thursday . The company traded as low as $0.49 and last traded at $0.53. 1,442,555 shares traded hands during mid-day trading, an increase of 204% from the average session volume of 474,211 shares. The stock had previously closed at $0.57.

Wall Street Analyst Weigh In

Separately, Cormark cut Verano from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 12th.

Verano Price Performance

The company has a debt-to-equity ratio of 0.39, a current ratio of 0.99 and a quick ratio of 0.52. The company's 50 day simple moving average is $0.66 and its 200 day simple moving average is $0.94. The stock has a market cap of $184.36 million, a P/E ratio of -1.24 and a beta of 0.81.

Verano (OTCMKTS:VRNOF - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.02. Verano had a negative net margin of 16.31% and a negative return on equity of 7.48%. The business had revenue of $209.81 million during the quarter, compared to analysts' expectations of $213.84 million. As a group, equities analysts forecast that Verano Holdings Corp. will post -0.18 earnings per share for the current year.

About Verano

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.