VerifyMe (NASDAQ:VRME) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

VerifyMe (NASDAQ:VRME) issued its quarterly earnings data on Friday. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02, Zacks reports. VerifyMe had a negative net margin of 17.16% and a negative return on equity of 14.32%.

VerifyMe Trading Up 0.5%

VRME stock traded up $0.00 during midday trading on Friday, hitting $0.80. The stock had a trading volume of 286,529 shares, compared to its average volume of 2,609,453. The company’s 50-day moving average price is $0.99 and its 200 day moving average price is $0.86. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.06 and a quick ratio of 4.04. The firm has a market cap of $9.84 million, a PE ratio of -2.28 and a beta of 0.46. VerifyMe has a 12-month low of $0.55 and a 12-month high of $5.00.

Wall Street Analyst Weigh In

VRME has been the topic of several recent research reports. Barrington Research upped their price target on shares of VerifyMe from $1.25 to $1.50 and gave the company an “outperform” rating in a report on Thursday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of VerifyMe in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded VerifyMe to a “hold” rating in a report on Saturday, October 11th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $1.50.

Institutional Investors Weigh In On VerifyMe

A hedge fund recently raised its stake in VerifyMe stock. Two Sigma Investments LP boosted its holdings in VerifyMe, Inc. (NASDAQ:VRME) by 235.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,321 shares of the company’s stock after buying an additional 24,793 shares during the period. Two Sigma Investments LP owned 0.29% of VerifyMe worth $31,000 at the end of the most recent reporting period. 8.79% of the stock is currently owned by hedge funds and other institutional investors.

About VerifyMe

VerifyMe, Inc, together with its subsidiary, PeriShip Global, LLC, operates as a technology solutions provider that specializes in products to connect brands with consumers and providing brands with end-to-end logistics management for their products. The company operates through two segments, VerifyMe Solutions and PeriShip Global Solutions.