Barrington Research Forecasts Strong Price Appreciation for VerifyMe (NASDAQ:VRME) Stock

VerifyMe (NASDAQ:VRME) had its target price upped by stock analysts at Barrington Research from $1.25 to $1.50 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Barrington Research’s price target suggests a potential upside of 63.97% from the company’s previous close.

Separately, Maxim Group set a $1.50 price target on VerifyMe and gave the stock a “buy” rating in a report on Wednesday, May 14th.

VerifyMe Stock Performance

Shares of NASDAQ VRME opened at $0.91 on Thursday. The stock has a 50 day moving average price of $0.80 and a 200 day moving average price of $0.81. VerifyMe has a 52 week low of $0.55 and a 52 week high of $5.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.63 and a current ratio of 4.06. The stock has a market capitalization of $11.27 million, a PE ratio of -2.61 and a beta of 0.57.

VerifyMe (NASDAQ:VRME) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. VerifyMe had a negative return on equity of 14.32% and a negative net margin of 17.16%. The business had revenue of $4.52 million during the quarter, compared to analysts’ expectations of $4.14 million. Analysts predict that VerifyMe will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On VerifyMe

A number of hedge funds and other institutional investors have recently bought and sold shares of VRME. SFE Investment Counsel lifted its position in VerifyMe by 30.0% during the first quarter. SFE Investment Counsel now owns 130,000 shares of the company’s stock worth $88,000 after acquiring an additional 30,000 shares during the last quarter. US Bancorp DE acquired a new stake in VerifyMe during the first quarter worth approximately $30,000. Finally, Benchmark Financial Wealth Advisors LLC acquired a new stake in VerifyMe during the second quarter worth approximately $28,000. Institutional investors own 8.79% of the company’s stock.

About VerifyMe

VerifyMe, Inc, together with its subsidiary, PeriShip Global, LLC, operates as a technology solutions provider that specializes in products to connect brands with consumers and providing brands with end-to-end logistics management for their products. The company operates through two segments, VerifyMe Solutions and PeriShip Global Solutions.