VerifyMe, Inc. (NASDAQ:VRME) Sees Significant Increase in Short Interest

VerifyMe, Inc. (NASDAQ:VRME) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 1,400,000 shares, agrowthof1,678.9% from the July 15th total of 78,700 shares. Based on an average trading volume of 3,180,000 shares, the short-interest ratio is currently 0.4 days. Approximately14.2% of the shares of the stock are short sold. Approximately14.2% of the shares of the stock are short sold. Based on an average trading volume of 3,180,000 shares, the short-interest ratio is currently 0.4 days.

VerifyMe Stock Performance

NASDAQ:VRME opened at $0.91 on Friday. VerifyMe has a fifty-two week low of $0.55 and a fifty-two week high of $5.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.63 and a current ratio of 4.06. The company has a fifty day moving average of $0.80 and a two-hundred day moving average of $0.81. The stock has a market capitalization of $11.27 million, a PE ratio of -2.61 and a beta of 0.57.

VerifyMe (NASDAQ:VRME) last announced its earnings results on Wednesday, August 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.04. VerifyMe had a negative net margin of 17.16% and a negative return on equity of 14.32%. The company had revenue of $4.52 million for the quarter, compared to analysts’ expectations of $4.14 million. As a group, research analysts forecast that VerifyMe will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On VerifyMe

Several institutional investors and hedge funds have recently bought and sold shares of VRME. SFE Investment Counsel increased its holdings in shares of VerifyMe by 30.0% during the 1st quarter. SFE Investment Counsel now owns 130,000 shares of the company’s stock worth $88,000 after buying an additional 30,000 shares during the last quarter. US Bancorp DE acquired a new position in VerifyMe in the first quarter valued at approximately $30,000. Finally, Benchmark Financial Wealth Advisors LLC purchased a new position in VerifyMe in the second quarter worth approximately $28,000. 8.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VRME shares. Maxim Group set a $1.50 price target on VerifyMe and gave the stock a “buy” rating in a report on Wednesday, May 14th. Barrington Research upped their target price on VerifyMe from $1.25 to $1.50 and gave the stock an “outperform” rating in a research note on Thursday.

VerifyMe Company Profile

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.