Verano Holdings Corp. (OTCMKTS:VRNOF) Sees Large Drop 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 days-to-cover ratio is currently 1.0 days.

Verano Stock Down 1.3 %

Shares of VRNOF opened at $5.43 on Friday. The firm has a market cap of $1.87 billion, a P/E ratio of -15.97 and a beta of 1.58. The stock has a 50 day simple moving average of $5.65 and a two-hundred day simple moving average of $4.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.96 and a quick ratio of 0.62. Verano has a 1 year low of $2.53 and a 1 year high of $7.08.

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

Analyst Ratings Changes

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

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.