Short Interest in VerifyMe, Inc. (NASDAQ:VRME) Drops By 90.1%

VerifyMe, Inc. (NASDAQ:VRME) saw a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 160,599 shares, a decline of 90.1% from the January 15th total of 1,619,489 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average trading volume of 679,531 shares, the short-interest ratio is presently 0.2 days. Based on an average trading volume of 679,531 shares, the short-interest ratio is presently 0.2 days. Approximately 1.6% of the shares of the stock are sold short.

VerifyMe Stock Performance

Shares of VerifyMe stock opened at $1.05 on Wednesday. The stock has a market cap of $13.06 million, a price-to-earnings ratio of -2.76 and a beta of 0.36. The stock has a 50 day moving average price of $0.93 and a 200-day moving average price of $0.93. VerifyMe has a one year low of $0.55 and a one year high of $1.51.

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 return on equity of 11.64% and a negative net margin of 21.78%.The company had revenue of $5.03 million during the quarter, compared to the consensus estimate of $4.89 million. Sell-side analysts predict that VerifyMe will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on VRME shares. Zacks Research upgraded VerifyMe from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. Barrington Research raised their price target on VerifyMe from $1.00 to $1.50 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VerifyMe in a research note on Wednesday, January 21st. One 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, VerifyMe currently has an average rating of “Moderate Buy” and an average price target of $1.50.

Institutional Trading of VerifyMe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Benchmark Financial Wealth Advisors LLC purchased a new position in shares of VerifyMe during the second quarter valued at approximately $28,000. Two Sigma Investments LP boosted its holdings in VerifyMe by 235.5% during the 3rd quarter. Two Sigma Investments LP now owns 35,321 shares of the company’s stock valued at $31,000 after acquiring an additional 24,793 shares during the period. Centurion Wealth Management LLC bought a new position in VerifyMe in the 3rd quarter valued at $34,000. Finally, Quantum Financial Planning Services Inc. bought a new position in VerifyMe in the 4th quarter valued at $42,000. 8.79% of the stock is owned by hedge funds and other institutional investors.

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.