Verano (OTCMKTS:VRNOF) Shares Down 7.2% - Here's What Happened

Verano Holdings Corp. (OTCMKTS:VRNOF - Get Free Report) shares traded down 7.2% during trading on Thursday . The stock 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 Analysts Forecast Growth

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

Verano Stock Down 7.2%

The stock has a fifty day moving average of $0.66 and a two-hundred day moving average of $0.96. The company has a quick ratio of 0.52, a current ratio of 0.99 and a debt-to-equity ratio of 0.39. The stock has a market cap of $190.29 million, a price-to-earnings ratio of -1.29 and a beta of 0.81.

Verano (OTCMKTS:VRNOF - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.02. Verano had a negative return on equity of 7.48% and a negative net margin of 16.31%. The business had revenue of $209.81 million during the quarter, compared to analysts' expectations of $213.84 million. As a group, analysts predict 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.

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