VerifyMe, Inc. (NASDAQ:VRME) Sees Large Decrease in Short Interest

VerifyMe, Inc. (NASDAQ:VRME) was the target of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 366,412 shares, a decrease of 26.0% from the February 26th total of 494,954 shares. Approximately 3.7% of the company’s shares are short sold. Based on an average daily volume of 235,167 shares, the short-interest ratio is presently 1.6 days.

VerifyMe Price Performance

Shares of VRME opened at $0.80 on Friday. The company has a 50-day simple moving average of $1.02 and a two-hundred day simple moving average of $0.94. The firm has a market capitalization of $9.99 million, a PE ratio of -2.11 and a beta of 0.39. VerifyMe has a one year low of $0.55 and a one year high of $1.51.

Institutional Investors Weigh In On VerifyMe

Hedge funds have recently made changes to their positions in the company. Centurion Wealth Management LLC purchased a new stake in VerifyMe in the third quarter worth $34,000. Two Sigma Investments LP lifted its position in VerifyMe by 235.5% during the third quarter. Two Sigma Investments LP now owns 35,321 shares of the company’s stock valued at $31,000 after buying an additional 24,793 shares during the period. Quantum Financial Planning Services Inc. bought a new stake in shares of VerifyMe during the 4th quarter valued at $42,000. LPL Financial LLC grew its position in shares of VerifyMe by 71.4% in the 4th quarter. LPL Financial LLC now owns 380,812 shares of the company’s stock worth $229,000 after buying an additional 158,697 shares during the period. Finally, State Street Corp grew its position in shares of VerifyMe by 51.8% in the 4th quarter. State Street Corp now owns 77,359 shares of the company’s stock worth $46,000 after buying an additional 26,400 shares during the period. 8.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VRME shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of VerifyMe in a research report on Wednesday, January 21st. Wall Street Zen raised VerifyMe to a “hold” rating in a research note on Saturday, February 14th. Barrington Research lifted their price target on shares of VerifyMe from $1.00 to $1.50 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Finally, Zacks Research downgraded shares of VerifyMe from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.