Verano (OTCMKTS:VRNOF) Shares Gap Up – Here’s Why

Verano Holdings Corp. (OTCMKTS:VRNOF)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $1.14, but opened at $1.26. Verano shares last traded at $1.40, with a volume of 1,729,405 shares.

Analyst Ratings Changes

Separately, Cormark upgraded Verano from a “hold” rating to a “moderate buy” rating in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Verano has an average rating of “Strong Buy”.

Verano Price Performance

The company has a market cap of $531.88 million, a PE ratio of -1.50 and a beta of 0.91. The company has a quick ratio of 1.06, a current ratio of 2.51 and a debt-to-equity ratio of 0.53. The firm’s 50-day moving average is $1.16 and its 200-day moving average is $0.81.

Verano (OTCMKTS:VRNOF) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). Verano had a negative net margin of 40.84% and a negative return on equity of 8.63%. The company had revenue of $202.27 million for the quarter, compared to the consensus estimate of $211.80 million. On average, equities analysts anticipate that Verano Holdings Corp. will post -0.18 EPS 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.