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

Key Points

• Verano Holdings Corp. saw its stock price increase from $1.55 to $1.62 before settling at $1.59, indicating growing investor interest with a trading volume of 183,642 shares.
• Analysts have upgraded Verano's rating from a "hold" to a "moderate buy", with a consensus rating of "Strong Buy" among experts.
• In its latest earnings report, Verano met consensus estimates with an EPS of ($0.05) but reported a negative net margin of 40.84% and a revenue of $202.27 million, below the expected $211.80 million.

Verano Holdings Corp. (OTCMKTS:VRNOF - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $1.55, but opened at $1.62. Verano shares last traded at $1.59, with a volume of 183,642 shares traded.

Analyst Upgrades and Downgrades

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

Verano Price Performance

The business has a 50 day simple moving average of $0.85 and a 200-day simple moving average of $0.75. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 2.51.

Verano (OTCMKTS:VRNOF - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate 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. On average, analysts forecast that Verano Holdings Corp. will post -0.18 EPS 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.