VerifyMe (NASDAQ:VRME) Releases Quarterly Earnings Results, Misses Estimates By $1.13 EPS

VerifyMe (NASDAQ:VRME) announced its quarterly earnings data on Thursday. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($1.13), FiscalAI reports. VerifyMe had a negative net margin of 47.08% and a negative return on equity of 17.16%. The firm had revenue of $7.43 million for the quarter, compared to analysts’ expectations of $3.52 million.

VerifyMe Trading Down 1.0%

VRME traded down $0.09 during midday trading on Thursday, hitting $8.89. The company’s stock had a trading volume of 101,060 shares, compared to its average volume of 812,426. VerifyMe has a 52-week low of $5.90 and a 52-week high of $19.50. The firm has a 50-day moving average price of $8.58 and a two-hundred day moving average price of $8.11. The firm has a market cap of $11.70 million, a P/E ratio of -2.22 and a beta of 0.32.

VerifyMe Announces Dividend

The firm also recently declared a special dividend, which was paid on Friday, October 2nd. Shareholders of record on Tuesday, September 29th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, September 29th.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VerifyMe in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, VerifyMe presently has an average rating of “Hold” and a consensus target price of $15.00.

VerifyMe Company Profile

VerifyMe, Inc. provides brand protection, product authentication, supply-chain traceability and consumer-engagement solutions. Its services are designed to help brand owners identify counterfeit or diverted products, monitor product movement through distribution channels and connect consumers with product information through digitally enabled packaging and labeling. The company’s solutions combine serialized identifiers, authentication technologies, data analytics and mobile or web-based engagement tools.