VerifyMe, Inc. (NASDAQ:VRME) Sees Significant Growth in Short Interest

VerifyMe, Inc. (NASDAQ:VRME) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 1,619,489 shares, an increase of 468.7% from the December 31st total of 284,761 shares. Approximately 16.2% of the company’s stock are sold short. Based on an average daily trading volume, of 20,842,289 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 20,842,289 shares, the days-to-cover ratio is currently 0.1 days. Approximately 16.2% of the company’s stock are sold short.

Institutional Investors Weigh In On VerifyMe

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRME. Two Sigma Investments LP increased its holdings in VerifyMe by 235.5% in the 3rd quarter. Two Sigma Investments LP now owns 35,321 shares of the company’s stock valued at $31,000 after purchasing an additional 24,793 shares in the last quarter. Benchmark Financial Wealth Advisors LLC acquired a new stake in VerifyMe during the second quarter worth about $28,000. Centurion Wealth Management LLC bought a new stake in VerifyMe in the third quarter valued at $34,000. Finally, Quantum Financial Planning Services Inc. acquired a new position in shares of VerifyMe during the fourth quarter worth approximately $42,000. 8.79% of the stock is currently owned by institutional investors and hedge funds.

VerifyMe Stock Up 1.7%

Shares of VRME stock opened at $1.20 on Wednesday. VerifyMe has a 52-week low of $0.55 and a 52-week high of $1.72. The stock has a market capitalization of $14.93 million, a PE ratio of -3.16 and a beta of 0.30. The stock’s 50-day moving average price is $0.85 and its 200 day moving average price is $0.90.

VerifyMe (NASDAQ:VRME) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. VerifyMe had a negative net margin of 21.78% and a negative return on equity of 11.64%. The business had revenue of $5.03 million for the quarter, compared to analyst estimates of $4.89 million. Analysts expect that VerifyMe will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Zacks Research raised VerifyMe from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 13th. Barrington Research boosted their price objective on VerifyMe from $1.00 to $1.50 and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of VerifyMe in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of VerifyMe to a “hold” rating in a research note on Saturday, October 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, VerifyMe presently has an average rating of “Moderate Buy” and an average price target of $1.50.

VerifyMe Company Profile

VerifyMe, Inc (NASDAQ: VRME) provides authentication and brand protection solutions to help companies secure products, packaging and digital credentials against counterfeiting, diversion and tampering. The company’s offerings combine physical authentication technologies—such as secure printing, invisible inks, RFID/NFC tags and direct part marking—with cloud-based software to create end-to-end track-and-trace capabilities. These integrated solutions enable customers to verify authenticity at every stage of the supply chain, from manufacturing through distribution and retail.

Key product lines include on-demand secure printers and customized label materials, embedded secure elements for item-level tagging, and a centralized data management platform that supports real-time analytics, consumer engagement and regulatory compliance.