Verano (OTCMKTS:VRNOF) Trading Down 0.8% – Here’s What Happened

Verano Holdings Corp. (OTCMKTS:VRNOF) shares dropped 0.8% during trading on Monday . The company traded as low as $1.20 and last traded at $1.25. Approximately 718,982 shares changed hands during trading, an increase of 52% from the average daily volume of 473,387 shares. The stock had previously closed at $1.26.

Wall Street Analysts Forecast Growth

Separately, Roth Capital upgraded Verano to a “strong-buy” rating in a report on Sunday, November 10th.

Verano Trading Down 0.8 %

The stock’s 50-day simple moving average is $2.16 and its 200-day simple moving average is $3.07. 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 $448.43 million, a PE ratio of -3.05 and a beta of 0.87.

Verano (OTCMKTS:VRNOF) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.09). Verano had a negative net margin of 16.31% and a negative return on equity of 7.48%. The company had revenue of $216.68 million for the quarter, compared to analysts’ expectations of $226.64 million. As a group, sell-side analysts expect 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.