Short Interest in Verano Holdings Corp. (OTCMKTS:VRNOF) Expands By 53.9%

Verano Holdings Corp. (OTCMKTS:VRNOF) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 846,700 shares, an increase of 53.9% from the August 15th total of 550,100 shares. Based on an average daily volume of 548,800 shares, the short-interest ratio is presently 1.5 days.

Verano Trading Up 1.3 %

VRNOF opened at $3.19 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.99 and a quick ratio of 0.52. Verano has a fifty-two week low of $3.00 and a fifty-two week high of $7.08. The company’s 50 day moving average price is $3.67 and its two-hundred day moving average price is $4.36. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -9.97 and a beta of 1.22.

Verano (OTCMKTS:VRNOF) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $222.39 million for the quarter, compared to analyst estimates of $224.23 million. Verano had a negative net margin of 13.21% and a negative return on equity of 4.87%. As a group, research analysts predict that Verano will post -0.16 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Ventum Cap Mkts raised Verano to a “strong-buy” rating in a research note on Tuesday, July 30th.

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.