Verano (OTCMKTS:VRNOF) Shares Gap Up - What's Next?

Key Points

• Verano Holdings Corp. shares gapped up from $1.50 to $1.57 on Friday, with the latest trading at $1.54 and a volume of 41,579 shares.
• Cormark raised its rating of Verano from "hold" to a "moderate buy," indicating positive sentiment among analysts.
• The company reported quarterly earnings of ($0.05) per share, meeting estimates, but fell short of revenue expectations with $202.27 million compared to the anticipated $211.80 million.

Verano Holdings Corp. (OTCMKTS:VRNOF - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $1.50, but opened at $1.57. Verano shares last traded at $1.54, with a volume of 41,579 shares changing hands.

Analysts Set New Price Targets

Separately, Cormark raised shares of Verano from a "hold" rating to a "moderate buy" rating in a research note on Monday, August 11th.

Verano Stock Performance

The stock has a market capitalization of $493.47 million, a PE ratio of -1.39 and a beta of 0.74. The company has a current ratio of 2.51, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The firm's 50-day simple moving average is $0.67 and its two-hundred day simple moving average is $0.72.

Verano (OTCMKTS:VRNOF - Get Free Report) last posted its 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 the consensus estimate 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 earnings per share 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.