Verano (OTCMKTS:VRNOF) Shares Gap Down - Should You Sell?

Key Points

• Verano Holdings Corp. shares gapped down from a previous close of $1.70 to open at $1.56, with the latest trading price at $1.63 and a volume of 523,697 shares.
• Cormark upgraded Verano from a "hold" to a "moderate buy" rating, contributing to a consensus rating of "Strong Buy" among analysts.
• For the last quarter, Verano reported an earnings per share of ($0.05) on revenue of $202.27 million, falling short of analyst estimates of $211.80 million.

Verano Holdings Corp. (OTCMKTS:VRNOF - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $1.70, but opened at $1.56. Verano shares last traded at $1.63, with a volume of 523,697 shares.

Analysts Set New Price Targets

Separately, Cormark upgraded Verano from a "hold" rating to a "moderate buy" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Verano has a consensus rating of "Strong Buy".

Verano Price Performance

The company has a market capitalization of $540.50 million, a price-to-earnings ratio of -1.52 and a beta of 0.91. The company has a quick ratio of 1.06, a current ratio of 2.51 and a debt-to-equity ratio of 0.53. The company has a 50 day simple moving average of $0.90 and a 200 day simple moving average of $0.75.

Verano (OTCMKTS:VRNOF - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $202.27 million during the quarter, compared to analyst estimates of $211.80 million. Verano had a negative return on equity of 8.63% and a negative net margin of 40.84%. As a group, research analysts predict that Verano Holdings Corp. will post -0.18 EPS for the current 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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