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

Zacks Research downgraded shares of VerifyMe (NASDAQ:VRME) from a strong-buy rating to a hold rating in a research note released on Wednesday,Zacks.com reports.

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

VerifyMe Price Performance

Shares of NASDAQ:VRME opened at $0.99 on Wednesday. The firm’s 50 day simple moving average is $0.94 and its 200 day simple moving average is $0.93. VerifyMe has a fifty-two week low of $0.55 and a fifty-two week high of $1.51. The company has a market capitalization of $12.37 million, a price-to-earnings ratio of -2.62 and a beta of 0.36.

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

Institutional Trading of VerifyMe

A number of institutional investors have recently modified their holdings of the company. LPL Financial LLC boosted its position in shares of VerifyMe by 71.4% during the fourth quarter. LPL Financial LLC now owns 380,812 shares of the company’s stock worth $229,000 after buying an additional 158,697 shares during the period. Quantum Financial Planning Services Inc. bought a new stake in VerifyMe in the 4th quarter valued at approximately $42,000. Centurion Wealth Management LLC acquired a new position in VerifyMe during the 3rd quarter worth approximately $34,000. Benchmark Financial Wealth Advisors LLC acquired a new position in VerifyMe during the 2nd quarter worth approximately $28,000. Finally, Two Sigma Investments LP grew its stake in shares of VerifyMe by 235.5% during the 3rd quarter. Two Sigma Investments LP now owns 35,321 shares of the company’s stock worth $31,000 after acquiring an additional 24,793 shares in the last quarter. 8.79% of the stock is currently owned by institutional investors.

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.