Verano (OTCMKTS:VRNOF) Stock Rating Reaffirmed by Needham & Company LLC

Verano (OTCMKTS:VRNOF)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They currently have a $7.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 38.34% from the stock’s current price.

Verano Trading Up 3.3 %

VRNOF stock opened at $5.06 on Wednesday. The firm’s fifty day simple moving average is $5.26 and its two-hundred day simple moving average is $4.95. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -14.41 and a beta of 1.49. The company has a quick ratio of 0.62, a current ratio of 0.96 and a debt-to-equity ratio of 0.39. Verano has a twelve month low of $2.53 and a twelve month high of $7.08.

Verano (OTCMKTS:VRNOF) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.07. Verano had a negative net margin of 12.50% and a negative return on equity of 4.49%. The company had revenue of $221.31 million for the quarter, compared to analyst estimates of $215.71 million. As a group, analysts anticipate that Verano will post -0.2 earnings per share for the current 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.