VerifyMe (NASDAQ:VRME) Downgraded by Zacks Research to Hold

VerifyMe (NASDAQ:VRME) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

VRME has been the topic of a number of other reports. Barrington Research upped their price target on VerifyMe from $1.00 to $1.50 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of VerifyMe in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $1.50.

VerifyMe Stock Down 8.8%

Shares of VRME opened at $0.99 on Wednesday. The company has a 50-day moving average price of $0.94 and a two-hundred day moving average price of $0.93. The stock has a market cap of $12.37 million, a price-to-earnings ratio of -2.62 and a beta of 0.36. VerifyMe has a 12 month low of $0.55 and a 12 month high of $1.51.

VerifyMe (NASDAQ:VRME) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. The company had revenue of $5.03 million for the quarter, compared to analyst estimates of $4.89 million. VerifyMe had a negative return on equity of 11.64% and a negative net margin of 21.78%. Equities research analysts expect that VerifyMe will post -0.15 EPS for the current fiscal year.

Institutional Trading of VerifyMe

Several large investors have recently made changes to their positions in the business. LPL Financial LLC raised its holdings in shares of VerifyMe by 71.4% in the fourth quarter. LPL Financial LLC now owns 380,812 shares of the company’s stock valued at $229,000 after buying an additional 158,697 shares during the last quarter. Two Sigma Investments LP increased its position in VerifyMe by 235.5% in the 3rd 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 in the last quarter. Quantum Financial Planning Services Inc. acquired a new stake in VerifyMe in the 4th quarter valued at about $42,000. Centurion Wealth Management LLC bought a new position in shares of VerifyMe in the third quarter worth about $34,000. Finally, Benchmark Financial Wealth Advisors LLC acquired a new position in shares of VerifyMe during the second quarter worth approximately $28,000. Institutional investors own 8.79% of the company’s stock.

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.