Verano (OTCMKTS:VRNOF) Shares Down 1.7%

Verano Holdings Corp. (OTCMKTS:VRNOF)’s share price dropped 1.7% during mid-day trading on Friday . The company traded as low as $5.06 and last traded at $5.15. Approximately 140,064 shares traded hands during trading, a decline of 65% from the average daily volume of 395,949 shares. The stock had previously closed at $5.24.

Analysts Set New Price Targets

Separately, Needham & Company LLC upped their price objective on shares of Verano from $6.00 to $7.00 and gave the company a “buy” rating in a report on Friday, March 1st.

Verano Trading Down 1.7 %

The company has a debt-to-equity ratio of 0.39, a current ratio of 0.96 and a quick ratio of 0.62. The firm has a market capitalization of $1.77 billion, a PE ratio of -15.15 and a beta of 1.49. The company’s fifty day simple moving average is $5.32 and its 200-day simple moving average is $4.94.

Verano (OTCMKTS:VRNOF) last posted its quarterly earnings data on Friday, March 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The company had revenue of $237.19 million for the quarter, compared to analysts’ expectations of $233.22 million. Verano had a negative net margin of 12.50% and a negative return on equity of 4.49%. As a group, sell-side analysts expect that Verano Holdings Corp. will post -0.2 earnings per share for the current fiscal 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.