Verano Holdings Corp. (OTCMKTS:VRNOF) Sees Significant Decrease in Short Interest

Verano Holdings Corp. (OTCMKTS:VRNOF) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 517,200 shares, a decline of 25.7% from the March 15th total of 696,400 shares. Based on an average daily volume of 503,400 shares, the short-interest ratio is presently 1.0 days.

Analysts Set New Price Targets

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

Verano Trading Down 6.6 %

VRNOF opened at $5.07 on Friday. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -14.91 and a beta of 1.58. The stock’s 50 day moving average price is $5.62 and its 200-day moving average price is $4.86. Verano has a one year low of $2.53 and a one year high of $7.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 0.96.

Verano (OTCMKTS:VRNOF) last released its earnings results on Friday, March 15th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The business had revenue of $237.19 million for the quarter, compared to the consensus estimate of $233.22 million. Verano had a negative net margin of 12.50% and a negative return on equity of 4.49%. On average, equities analysts forecast that Verano will post -0.2 EPS for the current year.

Verano Company Profile

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.