Verano’s (VRNOF) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Verano (OTCMKTS:VRNOF) in a research note issued to investors on Wednesday, Benzinga reports. Needham & Company LLC currently has a $7.00 target price on the stock.

Verano Stock Performance

VRNOF opened at $4.90 on Wednesday. The stock has a market cap of $1.69 billion, a P/E ratio of -14.41 and a beta of 1.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.96 and a quick ratio of 0.62. The firm has a fifty day moving average price of $5.26 and a 200 day moving average price of $4.95. Verano has a 1 year low of $2.53 and a 1 year high of $7.08.

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