Needham & Company LLC Lowers Verano (OTCMKTS:VRNOF) to Hold

Needham & Company LLC downgraded shares of Verano (OTCMKTS:VRNOFGet Rating) from a buy rating to a hold rating in a research note released on Friday morning, The Fly reports.

VRNOF has been the subject of a number of other research reports. Canaccord Genuity Group reduced their target price on shares of Verano from C$24.50 to C$23.00 in a research report on Thursday, May 26th. Seaport Res Ptn reaffirmed a buy rating on shares of Verano in a research report on Friday, July 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Verano presently has an average rating of Moderate Buy and a consensus target price of $29.80.

Verano Price Performance

OTCMKTS VRNOF opened at $5.92 on Friday. The company has a market capitalization of $94.90 million and a PE ratio of -16.91. Verano has a 12-month low of $5.32 and a 12-month high of $18.78. The firm’s 50 day moving average is $6.87 and its 200-day moving average is $8.81. The company has a quick ratio of 0.40, a current ratio of 0.75 and a debt-to-equity ratio of 0.29.

Verano (OTCMKTS:VRNOFGet Rating) last announced its earnings results on Wednesday, May 25th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.09). The business had revenue of $202.24 million during the quarter, compared to the consensus estimate of $201.46 million. Verano had a negative net margin of 10.96% and a negative return on equity of 5.83%. Equities research analysts anticipate that Verano will post 0.18 earnings per share for the current fiscal year.

About Verano

(Get Rating)

Verano Holdings Corp. operates as a vertically integrated multi-state cannabis operator in the United States. It 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.

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