VerifyMe (NASDAQ:VRME) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

VerifyMe (NASDAQ:VRME) posted its quarterly earnings data on Friday, August 14th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06, Zacks reports. The firm had revenue of $1.91 million for the quarter, compared to the consensus estimate of $2.71 million. VerifyMe had a negative net margin of 47.08% and a negative return on equity of 17.16%.

VerifyMe Trading Up 10.3%

VRME traded up $0.84 during trading on Wednesday, reaching $8.98. 100,409 shares of the company were exchanged, compared to its average volume of 224,035. VerifyMe has a 52 week low of $5.90 and a 52 week high of $19.50. The firm has a 50 day moving average of $7.32 and a 200 day moving average of $7.37. The stock has a market cap of $11.83 million, a P/E ratio of -22.45 and a beta of 0.32.

VerifyMe Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 29th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 29th.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of VerifyMe in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.00.

VerifyMe Company Profile

VerifyMe, Inc (NASDAQ:VRME) provides brand protection, product authentication, and consumer engagement solutions for companies seeking to protect products and strengthen relationships with customers. Its technology is designed to help businesses identify counterfeit or diverted goods, improve product traceability, and collect actionable information throughout the supply chain.

The company offers solutions that can incorporate unique product identifiers, serialized codes, authentication features, and digital engagement tools.