Verano (OTCMKTS:VRNOF) Stock Price Up 9.3% – Should You Buy?

Verano Holdings Corp. (OTCMKTS:VRNOF)’s stock price traded up 9.3% during trading on Monday . The stock traded as high as $0.63 and last traded at $0.59. 442,315 shares traded hands during trading, an increase of 22% from the average session volume of 362,308 shares. The stock had previously closed at $0.54.

Analyst Upgrades and Downgrades

Separately, Cormark downgraded shares of Verano from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 12th.

Verano Stock Performance

The company has a current ratio of 2.15, a quick ratio of 1.01 and a debt-to-equity ratio of 0.53. The company has a market cap of $213.45 million, a price-to-earnings ratio of -0.60 and a beta of 0.72. The stock’s 50 day moving average price is $0.58 and its 200 day moving average price is $0.77.

Verano (OTCMKTS:VRNOF) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Verano had a negative return on equity of 8.06% and a negative net margin of 40.20%. The company had revenue of $209.81 million for the quarter, compared to analyst estimates of $213.84 million. On average, 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.