VerifyMe, Inc. (NASDAQ:VRME) Short Interest Up 69.8% in March

VerifyMe, Inc. (NASDAQ:VRME) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 48,900 shares, an increase of 69.8% from the March 15th total of 28,800 shares. Based on an average trading volume of 32,600 shares, the days-to-cover ratio is presently 1.5 days.

Hedge Funds Weigh In On VerifyMe

A number of institutional investors have recently modified their holdings of VRME. MML Investors Services LLC purchased a new position in shares of VerifyMe during the first quarter worth approximately $383,000. HighTower Advisors LLC increased its holdings in VerifyMe by 492.0% during the first quarter. HighTower Advisors LLC now owns 89,095 shares of the company’s stock valued at $171,000 after buying an additional 74,046 shares during the period. LPL Financial LLC purchased a new position in VerifyMe during the second quarter valued at approximately $67,000. Renaissance Technologies LLC purchased a new position in VerifyMe during the third quarter valued at approximately $57,000. Finally, Vanguard Group Inc. increased its holdings in VerifyMe by 14.6% during the fourth quarter. Vanguard Group Inc. now owns 217,986 shares of the company’s stock valued at $244,000 after buying an additional 27,792 shares during the period. 8.79% of the stock is owned by hedge funds and other institutional investors.

VerifyMe Stock Performance

Shares of NASDAQ:VRME opened at $1.56 on Friday. The firm has a market cap of $15.83 million, a PE ratio of -4.46 and a beta of 1.08. The firm’s 50 day simple moving average is $1.28 and its 200-day simple moving average is $1.16. VerifyMe has a one year low of $0.85 and a one year high of $2.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 1.50.

Analyst Upgrades and Downgrades

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