VerifyMe, Inc. (NASDAQ:VRME) Sees Large Decline in Short Interest

VerifyMe, Inc. (NASDAQ:VRME) saw a significant decline in short interest in May. As of May 29th, there was short interest totaling 54,630 shares, a decline of 47.5% from the May 14th total of 103,971 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 79,575 shares, the days-to-cover ratio is presently 0.7 days.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VRME. Weiss Ratings reiterated a “sell (d-)” rating on shares of VerifyMe in a research report on Monday, April 20th. Wall Street Zen cut VerifyMe from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $1.50.

VerifyMe Price Performance

NASDAQ VRME remained flat at $0.69 during trading on Friday. The company’s stock had a trading volume of 111,743 shares, compared to its average volume of 80,843. The company has a market capitalization of $9.05 million, a PE ratio of -1.82 and a beta of 0.34. The stock has a 50 day moving average of $0.76 and a two-hundred day moving average of $0.86. VerifyMe has a fifty-two week low of $0.59 and a fifty-two week high of $1.51.

VerifyMe (NASDAQ:VRME) last announced its earnings results 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). The business had revenue of $1.77 million during the quarter, compared to the consensus estimate of $2.23 million. VerifyMe had a negative return on equity of 13.70% and a negative net margin of 36.55%.

Hedge Funds Weigh In On VerifyMe

A number of institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC increased its stake in VerifyMe by 71.4% in the 4th 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 last quarter. State Street Corp boosted its holdings in shares of VerifyMe by 51.8% in 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 in the last quarter. Quantum Financial Planning Services Inc. purchased a new position in shares of VerifyMe in the 4th quarter worth about $42,000. Finally, Two Sigma Investments LP boosted its holdings in shares of VerifyMe by 235.5% in the 3rd quarter. Two Sigma Investments LP now owns 35,321 shares of the company’s stock worth $31,000 after purchasing an additional 24,793 shares in the last quarter. 8.79% of the stock is currently owned by 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.