Verano Holdings stock (VRNOF:OTC) saw a significant increase in short interest during the month of December. According to data from December 30th, there were 893,900 shares sold short, a 42.3% increase from the 628,200 shares sold short on December 15th. Given the average daily volume of 1,501,900 shares, the short-interest ratio is currently 0.6 days.
Verano Holdings Stock Price Performance:
Verano Holdings stock has seen a decline of 0.7% and opened at $3.00 on Thursday. The company has a 52-week low of $2.58 and a 52-week high of $13.10.
The firm has a market capitalization of $1.02 billion and a PE ratio of -3.51. Additionally, the company has a quick ratio of 0.33, a current ratio of 0.77 and a debt-to-equity ratio of 0.29.
Quarterly Earnings Overview:
Verano Holdings last announced its quarterly earnings data on Monday, November 14th, which showed ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.10).
The company had a negative net margin of 29.27% and a negative return on equity of 16.70%. The company had revenue of $227.59 million for the quarter, compared to analysts’ expectations of $231.77 million. On average, analysts anticipate that Verano will post -0.19 EPS for the current year.
Analyst Ratings:
Analysts have given the Verano Holdings stock a “Moderate Buy” rating with a consensus price target of $20.33. However, Alliance Global Partners lowered their target price on shares of Verano from C$16.00 to C$12.00 in a research note.
Company Profile:
Verano Holdings Corp. operates as a vertically integrated multi-state cannabis operator in the United States.
It engages in the cultivation, processing, wholesale, and retail distribution of cannabis in Arizona, Arkansas, California, Connecticut, Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, Ohio, Pennsylvania, and West Virginia.
The company offers artisanal cannabis products under the Encore, Avexia, MUV, and Verano brands for medical and adult-use markets. As of May 10, 2022, it operated 96 retail dispensaries, and 13 cultivation and processing facilities. The company is headquartered in Chicago, Illinois.
