Verano (OTCMKTS:VRNOF) Stock Price Down 4.4% – What’s Next?

Verano Holdings Corp. (OTCMKTS:VRNOF)’s share price was down 4.4% during mid-day trading on Wednesday . The company traded as low as $1.20 and last traded at $1.20. Approximately 997,012 shares traded hands during trading, an increase of 128% from the average daily volume of 438,061 shares. The stock had previously closed at $1.25.

Wall Street Analysts Forecast Growth

Separately, Roth Capital upgraded shares of Verano to a “strong-buy” rating in a research report on Sunday, November 10th.

Verano Price Performance

The stock has a market cap of $428.95 million, a P/E ratio of -2.91 and a beta of 0.89. The business has a 50-day simple moving average of $1.27 and a 200 day simple moving average of $2.52. The company has a current ratio of 0.99, a quick ratio of 0.52 and a debt-to-equity ratio of 0.39.

Verano (OTCMKTS:VRNOF) last announced its earnings results on Thursday, November 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.09). Verano had a negative net margin of 16.31% and a negative return on equity of 7.48%. The company had revenue of $216.68 million during the quarter, compared to the consensus estimate of $226.64 million. On average, analysts forecast that Verano Holdings Corp. 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.