Short Interest in VerifyMe, Inc. (NASDAQ:VRME) Declines By 51.8%

VerifyMe, Inc. (NASDAQ:VRME) was the target of a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 81,504 shares, a decline of 51.8% from the April 15th total of 169,131 shares. Based on an average trading volume of 51,950 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.8% of the shares of the company are short sold.

VerifyMe Trading Up 2.1%

Shares of VRME stock opened at $0.70 on Friday. VerifyMe has a 1 year low of $0.59 and a 1 year high of $1.51. The firm’s 50 day moving average is $0.85 and its 200-day moving average is $0.89. The firm has a market capitalization of $9.12 million, a price-to-earnings ratio of -1.83 and a beta of 0.40.

VerifyMe (NASDAQ:VRME) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). VerifyMe had a negative net margin of 29.91% and a negative return on equity of 11.72%. The business had revenue of $1.77 million during the quarter, compared to analyst estimates of $2.23 million.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on VRME. Wall Street Zen downgraded shares of VerifyMe from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VerifyMe in a research report on Monday, April 20th. Finally, Zacks Research cut shares of VerifyMe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, VerifyMe has an average rating of “Hold” and a consensus target price of $1.50.

Institutional Investors Weigh In On VerifyMe

Hedge funds and other institutional investors have recently made changes to their positions in the company. Two Sigma Investments LP lifted its stake in shares of VerifyMe by 235.5% during the third quarter. Two Sigma Investments LP now owns 35,321 shares of the company’s stock valued at $31,000 after acquiring an additional 24,793 shares during the period. Quantum Financial Planning Services Inc. acquired a new stake in VerifyMe in the fourth quarter worth about $42,000. State Street Corp raised its holdings in VerifyMe by 51.8% during the 4th quarter. State Street Corp now owns 77,359 shares of the company’s stock worth $46,000 after purchasing an additional 26,400 shares during the last quarter. Finally, LPL Financial LLC lifted its position in VerifyMe by 71.4% during the 4th quarter. LPL Financial LLC now owns 380,812 shares of the company’s stock valued at $229,000 after purchasing an additional 158,697 shares during the period. 8.79% of the stock is owned by institutional investors and hedge funds.

VerifyMe Company Profile

VerifyMe, Inc (NASDAQ: VRME) provides authentication and brand protection solutions to help companies secure products, packaging and digital credentials against counterfeiting, diversion and tampering. The company’s offerings combine physical authentication technologies—such as secure printing, invisible inks, RFID/NFC tags and direct part marking—with cloud-based software to create end-to-end track-and-trace capabilities. These integrated solutions enable customers to verify authenticity at every stage of the supply chain, from manufacturing through distribution and retail.

Key product lines include on-demand secure printers and customized label materials, embedded secure elements for item-level tagging, and a centralized data management platform that supports real-time analytics, consumer engagement and regulatory compliance.