Verano (OTCMKTS:VRNOF) Stock Price Up 7% - Still a Buy?

Key Points

• Verano Holdings Corp. stock price increased by 7%, closing at $1.53, although trading volume dropped by 70% from its average.
• Analysts have upgraded Verano, with Canaccord Genuity giving it a "strong-buy" rating and a consensus of "Strong Buy" from multiple analysts.
• The company reported Q2 earnings with a loss of (0.05) EPS and revenue of $202.27 million, missing analysts' expectations of $211.80 million.

Verano Holdings Corp. (OTCMKTS:VRNOF - Get Free Report) shares rose 7% during trading on Monday . The company traded as high as $1.53 and last traded at $1.53. Approximately 215,244 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 712,064 shares. The stock had previously closed at $1.43.

Analyst Upgrades and Downgrades

VRNOF has been the topic of a number of research analyst reports. Canaccord Genuity Group raised Verano to a "strong-buy" rating in a research note on Thursday, October 9th. Cormark raised Verano from a "hold" rating to a "moderate buy" rating in a research note on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Strong Buy".

Verano Price Performance

The company has a market capitalization of $553.58 million, a PE ratio of -1.56 and a beta of 0.88. The firm has a fifty day moving average of $1.41 and a two-hundred day moving average of $0.90. The company has a current ratio of 2.51, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53.

Verano (OTCMKTS:VRNOF - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $202.27 million during the quarter, compared to analysts' expectations of $211.80 million. Verano had a negative return on equity of 8.63% and a negative net margin of 40.84%. Research analysts anticipate that Verano Holdings Corp. will post -0.18 EPS for the current fiscal 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.

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