Verano (OTCMKTS:VRNOF) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Verano (OTCMKTS:VRNOF) from a hold rating to a strong sell rating in a research report released on Wednesday morning,Zacks.com reports.

Several other research firms have also issued reports on VRNOF. Cormark upgraded Verano from a “hold” rating to a “moderate buy” rating in a research report on Monday, August 11th. Canaccord Genuity Group upgraded Verano to a “strong-buy” rating in a research report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy”.

Verano Stock Performance

Shares of OTCMKTS:VRNOF opened at $1.36 on Wednesday. The stock has a market capitalization of $492.08 million, a P/E ratio of -1.39 and a beta of 0.88. Verano has a 1-year low of $0.41 and a 1-year high of $3.58. The company has a current ratio of 2.69, a quick ratio of 1.06 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $1.40 and a two-hundred day moving average price of $0.96.

Verano (OTCMKTS:VRNOF) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The firm had revenue of $202.81 million for the quarter, compared to the consensus estimate of $203.10 million. Verano had a negative return on equity of 9.54% and a negative net margin of 41.68%. Equities analysts predict that Verano will post -0.18 earnings per share for the current 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.