Verano (OTCMKTS:VRNOF) Shares Gap Up - Still a Buy?

Key Points

• Verano Holdings Corp. (OTCMKTS:VRNOF) shares gapped up from $1.14 to $1.26 before trading at $1.40, with a volume of 1,729,405 shares.
• Cormark upgraded Verano's rating from "hold" to "moderate buy", and the average rating for the stock is currently "Strong Buy".
• In its latest quarterly report, Verano reported a revenue of $202.27 million, which was below the consensus estimate of $211.80 million, and earnings per share were in line with expectations at ($0.05).

Verano Holdings Corp. (OTCMKTS:VRNOF - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $1.14, but opened at $1.26. Verano shares last traded at $1.40, with a volume of 1,729,405 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Cormark raised shares of Verano from a "hold" rating to a "moderate buy" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Verano presently has an average rating of "Strong Buy".

Verano Stock Up 28.9%

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 2.51. The firm has a fifty day simple moving average of $1.16 and a 200-day simple moving average of $0.81. The company has a market capitalization of $531.88 million, a PE ratio of -1.50 and a beta of 0.91.

Verano (OTCMKTS:VRNOF - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.05). Verano had a negative return on equity of 8.63% and a negative net margin of 40.84%.The business had revenue of $202.27 million during the quarter, compared to the consensus estimate of $211.80 million. Equities research analysts anticipate 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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