VerifyMe (NASDAQ:VRME) Announces Earnings Results, Beats Estimates By $0.02 EPS

VerifyMe (NASDAQ:VRME) posted its quarterly earnings data on Friday. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02, Zacks reports. VerifyMe had a negative net margin of 17.16% and a negative return on equity of 14.32%.

VerifyMe Price Performance

VRME stock opened at $0.80 on Friday. The stock has a market cap of $9.84 million, a price-to-earnings ratio of -2.28 and a beta of 0.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.06 and a quick ratio of 4.04. The company has a 50 day simple moving average of $0.98 and a 200 day simple moving average of $0.86. VerifyMe has a 1 year low of $0.55 and a 1 year high of $5.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in VerifyMe stock. Two Sigma Investments LP boosted its stake in VerifyMe, Inc. (NASDAQ:VRME) by 235.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,321 shares of the company’s stock after purchasing an additional 24,793 shares during the period. Two Sigma Investments LP owned about 0.29% of VerifyMe worth $31,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.79% of the company’s stock.

Analysts Set New Price Targets

VRME has been the subject of several analyst reports. Barrington Research boosted their target price on shares of VerifyMe from $1.25 to $1.50 and gave the company an “outperform” rating in a research report on Thursday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of VerifyMe in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded VerifyMe to a “hold” rating in a research note on Saturday, October 11th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $1.50.

About VerifyMe

VerifyMe, Inc, together with its subsidiary, PeriShip Global, LLC, operates as a technology solutions provider that specializes in products to connect brands with consumers and providing brands with end-to-end logistics management for their products. The company operates through two segments, VerifyMe Solutions and PeriShip Global Solutions.