Verso Corp (NYSE:VRS) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 2,860,000 shares, a growth of 17.7% from the August 30th total of 2,430,000 shares. Currently, 9.2% of the company’s shares are sold short. Based on an average daily trading volume, of 334,600 shares, the short-interest ratio is presently 8.5 days.
VRS has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Verso from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Saturday, October 5th. B. Riley cut their price target on Verso from $26.00 to $17.50 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Finally, ValuEngine upgraded Verso from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Verso presently has a consensus rating of “Buy” and a consensus target price of $27.17.
Shares of VRS traded up $0.05 during trading hours on Monday, reaching $12.55. The stock had a trading volume of 166,800 shares, compared to its average volume of 318,014. Verso has a 12 month low of $9.61 and a 12 month high of $31.96. The firm has a 50-day simple moving average of $11.52 and a 200 day simple moving average of $16.70. The company has a current ratio of 2.07, a quick ratio of 0.63 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $418.98 million, a price-to-earnings ratio of 3.39 and a beta of 1.99.
Verso (NYSE:VRS) last issued its earnings results on Thursday, August 8th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.86) by $1.98. Verso had a return on equity of 18.97% and a net margin of 3.64%. The company had revenue of $602.00 million for the quarter, compared to analysts’ expectations of $632.30 million. On average, equities analysts forecast that Verso will post 0.89 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC bought a new position in shares of Verso in the 2nd quarter worth $28,000. Point72 Hong Kong Ltd bought a new position in shares of Verso in the 2nd quarter worth $40,000. DekaBank Deutsche Girozentrale bought a new position in shares of Verso in the 2nd quarter worth $65,000. Bank of Montreal Can lifted its holdings in shares of Verso by 294.8% in the 2nd quarter. Bank of Montreal Can now owns 3,948 shares of the basic materials company’s stock worth $75,000 after purchasing an additional 2,948 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in shares of Verso by 241.0% in the 2nd quarter. Macquarie Group Ltd. now owns 10,413 shares of the basic materials company’s stock worth $198,000 after purchasing an additional 7,359 shares in the last quarter. Institutional investors own 90.71% of the company’s stock.
Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated freesheet and coated groundwood, specialty, packaging, inkjet and digital, supercalendered, and uncoated freesheet papers; and bleached and unbleached market kraft pulp to manufacture printing, writing, and tissue products.
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