Verano (OTCMKTS:VRNOF) Trading Down 5.1%

Verano Holdings Corp. (OTCMKTS:VRNOF)’s share price dropped 5.1% during trading on Thursday . The stock traded as low as $5.81 and last traded at $5.94. Approximately 231,091 shares were traded during trading, a decline of 43% from the average daily volume of 406,398 shares. The stock had previously closed at $6.26.

Analysts Set New Price Targets

Separately, Needham & Company LLC increased their price target on Verano from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, March 1st.

Verano Stock Performance

The firm has a 50 day simple moving average of $5.62 and a 200-day simple moving average of $4.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.96 and a quick ratio of 0.62. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -17.47 and a beta of 1.55.

Verano (OTCMKTS:VRNOF) last issued its quarterly earnings data on Friday, March 15th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). Verano had a negative net margin of 12.50% and a negative return on equity of 4.49%. The firm had revenue of $237.19 million during the quarter, compared to analyst estimates of $233.22 million. As a group, analysts predict that Verano Holdings Corp. will post -0.2 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, California, Connecticut, Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, Ohio, Pennsylvania, and West Virginia.