Verano (OTCMKTS:VRNOF) Hits New 52-Week Low – Here’s Why

Verano Holdings Corp. (OTCMKTS:VRNOF)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $1.36 and last traded at $1.43, with a volume of 449900 shares changing hands. The stock had previously closed at $1.41.

Wall Street Analysts Forecast Growth

Separately, Roth Capital upgraded Verano to a “strong-buy” rating in a report on Sunday, November 10th.

Verano Price Performance

The business has a fifty day simple moving average of $2.68 and a 200-day simple moving average of $3.34. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.52 and a current ratio of 0.99. The stock has a market capitalization of $486.26 million, a P/E ratio of -3.38 and a beta of 1.21.

Verano (OTCMKTS:VRNOF) last issued its earnings results on Thursday, November 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.09). Verano had a negative return on equity of 7.48% and a negative net margin of 16.31%. The firm had revenue of $216.68 million during the quarter, compared to the consensus estimate of $226.64 million. Sell-side analysts expect that Verano Holdings Corp. will post -0.18 earnings per share 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.