Verano (OTCMKTS:VRNOF) Trading 9.8% Higher - Should You Buy?

Key Points

• Verano Holdings Corp. (OTCMKTS:VRNOF) saw a significant increase in its stock price, rising by 9.8% during mid-day trading, with shares last trading at $1.41.
• Cormark upgraded Verano from a "hold" rating to a "moderate buy" rating, indicating increased confidence in the stock's potential.
• Despite a revenue of $202.27 million for the last quarter, Verano fell short of analysts' expectations of $211.80 million and reported an EPS of ($0.05), matching consensus estimates.

Verano Holdings Corp. (OTCMKTS:VRNOF - Get Free Report)'s stock price traded up 9.8% on Wednesday . The company traded as high as $1.44 and last traded at $1.41. 111,519 shares changed hands during trading, a decline of 79% from the average session volume of 539,287 shares. The stock had previously closed at $1.29.

Wall Street Analysts Forecast Growth

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

Verano Price Performance

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 company has a market capitalization of $484.79 million, a PE ratio of -1.37 and a beta of 0.74. The company's 50-day simple moving average is $0.65 and its 200-day simple moving average is $0.72.

Verano (OTCMKTS:VRNOF - Get Free Report) last released its 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). The business had revenue of $202.27 million for the quarter, compared to analysts' expectations of $211.80 million. Verano had a negative net margin of 40.84% and a negative return on equity of 8.63%. As a group, sell-side analysts anticipate that Verano Holdings Corp. will post -0.18 earnings per share 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.