Verano (OTCMKTS:VRNOF) Given Buy Rating at Needham & Company LLC

Verano (OTCMKTS:VRNOF)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $7.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 41.41% from the company’s previous close.

Verano Price Performance

Verano stock traded down $0.24 during trading hours on Wednesday, hitting $4.95. 199,699 shares of the stock were exchanged, compared to its average volume of 396,348. Verano has a 12 month low of $2.53 and a 12 month high of $7.08. The stock has a market capitalization of $1.70 billion, a P/E ratio of -14.56 and a beta of 1.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.62 and a current ratio of 0.96. The business’s 50-day moving average is $5.27 and its two-hundred day moving average is $4.96.

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