VerifyMe (NASDAQ:VRME) Shares Down 0.6% – Here’s What Happened

Shares of VerifyMe, Inc. (NASDAQ:VRME) were down 0.6% during trading on Friday . The stock traded as low as $0.66 and last traded at $0.6763. Approximately 247,850 shares were traded during mid-day trading, an increase of 232% from the average daily volume of 74,637 shares. The stock had previously closed at $0.6802.

Analyst Ratings Changes

Several research analysts recently commented on VRME shares. Zacks Research downgraded shares of VerifyMe from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of VerifyMe in a research note on Monday, April 20th. Finally, Wall Street Zen downgraded shares of VerifyMe from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $1.50.

VerifyMe Stock Down 0.6%

The stock’s 50 day moving average is $0.77 and its two-hundred day moving average is $0.86. The company has a market capitalization of $8.87 million, a PE ratio of -1.78 and a beta of 0.34.

VerifyMe (NASDAQ:VRME) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). VerifyMe had a negative return on equity of 13.70% and a negative net margin of 36.55%.The business had revenue of $1.77 million during the quarter, compared to analysts’ expectations of $2.23 million.

Institutional Trading of VerifyMe

A number of hedge funds have recently added to or reduced their stakes in VRME. LPL Financial LLC lifted its stake in VerifyMe by 71.4% in the fourth quarter. LPL Financial LLC now owns 380,812 shares of the company’s stock worth $229,000 after acquiring an additional 158,697 shares during the period. Quantum Financial Planning Services Inc. purchased a new stake in shares of VerifyMe during the fourth quarter valued at about $42,000. State Street Corp lifted its position in shares of VerifyMe by 51.8% during the fourth quarter. State Street Corp now owns 77,359 shares of the company’s stock valued at $46,000 after buying an additional 26,400 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position 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 buying an additional 24,793 shares during the last quarter. 8.79% of the stock is owned by hedge funds and other institutional investors.

About VerifyMe

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.