Verano (OTCMKTS:VRNOF) Stock Price Up 2% – Still a Buy?

Shares of Verano Holdings Corp. (OTCMKTS:VRNOF) shot up 2% during mid-day trading on Thursday . The company traded as high as $3.37 and last traded at $3.36. 240,976 shares traded hands during trading, a decline of 40% from the average session volume of 398,792 shares. The stock had previously closed at $3.29.

Analyst Ratings Changes

Separately, Ventum Cap Mkts raised Verano to a “strong-buy” rating in a research note on Tuesday, July 30th.

Verano Price Performance

The stock’s 50 day simple moving average is $3.43 and its 200 day simple moving average is $4.05. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.52 and a current ratio of 0.99. The firm has a market capitalization of $1.20 billion, a P/E ratio of -9.87 and a beta of 1.22.

Verano (OTCMKTS:VRNOF) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Verano had a negative return on equity of 4.87% and a negative net margin of 13.21%. The company had revenue of $222.39 million for the quarter, compared to the consensus estimate of $224.23 million. As a group, analysts expect that Verano Holdings Corp. will post -0.16 earnings per share 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.