Insider Buying: VerifyMe, Inc. (NASDAQ:VRME) Director Buys $10,057.20 in Stock

VerifyMe, Inc. (NASDAQ:VRME) Director Arthur B. Laffer bought 7,395 shares of the stock in a transaction on Monday, March 25th. The shares were acquired at an average cost of $1.36 per share, for a total transaction of $10,057.20. Following the purchase, the director now owns 279,911 shares in the company, valued at $380,678.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

VerifyMe Stock Up 2.1 %

Shares of VRME opened at $1.44 on Thursday. The firm has a market cap of $14.39 million, a P/E ratio of -4.11 and a beta of 1.05. VerifyMe, Inc. has a 12-month low of $0.85 and a 12-month high of $2.27. The company’s 50-day moving average price is $1.19 and its 200 day moving average price is $1.14. The company has a current ratio of 1.55, a quick ratio of 1.53 and a debt-to-equity ratio of 0.18.

Institutional Trading of VerifyMe

Several institutional investors and hedge funds have recently bought and sold shares of VRME. MML Investors Services LLC purchased a new stake in VerifyMe during the first quarter worth about $383,000. Vanguard Group Inc. increased its stake in VerifyMe by 14.6% during the fourth quarter. Vanguard Group Inc. now owns 217,986 shares of the company’s stock worth $244,000 after purchasing an additional 27,792 shares during the period. HighTower Advisors LLC increased its stake in VerifyMe by 492.0% during the first quarter. HighTower Advisors LLC now owns 89,095 shares of the company’s stock worth $171,000 after purchasing an additional 74,046 shares during the period. LPL Financial LLC purchased a new stake in shares of VerifyMe during the second quarter worth approximately $67,000. Finally, Renaissance Technologies LLC increased its stake in shares of VerifyMe by 52.4% during the second quarter. Renaissance Technologies LLC now owns 46,200 shares of the company’s stock worth $64,000 after buying an additional 15,892 shares during the period. 8.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reaffirmed an “outperform” rating and set a $1.70 target price on shares of VerifyMe in a research note on Friday, March 22nd.

VerifyMe Company Profile

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.