Verano (OTCMKTS:VRNOF) Trading Down 6.7% - What's Next?

Key Points

• Verano Holdings Corp. (OTCMKTS:VRNOF) experienced a 6.7% decline in trading, closing at $1.40, with trading volume down 77% from the average.
• Cormark upgraded the company's stock from a "hold" rating to a "moderate buy", contributing to an overall average rating of "Strong Buy" among analysts.
• In its latest earnings report, Verano reported ($0.05) EPS, matching estimates, with revenue at $202.27 million, falling short of expectations of $211.80 million.

Verano Holdings Corp. (OTCMKTS:VRNOF - Get Free Report) traded down 6.7% during mid-day trading on Thursday . The company traded as low as $1.40 and last traded at $1.40. 143,101 shares were traded during trading, a decline of 77% from the average session volume of 622,520 shares. The stock had previously closed at $1.50.

Wall Street Analyst Weigh In

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

Verano Price Performance

The stock has a fifty day simple moving average of $1.21 and a two-hundred day simple moving average of $0.82. The company has a market cap of $545.62 million, a PE ratio of -1.54 and a beta of 0.88. 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 posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.05). Verano had a negative net margin of 40.84% and a negative return on equity of 8.63%. The company had revenue of $202.27 million during the quarter, compared to the consensus estimate of $211.80 million. On average, equities analysts predict 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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