Short Interest in Verso Corp (NYSE:VRS) Declines By 8.7%

Verso Corp (NYSE:VRS) was the recipient of a significant drop in short interest in November. As of November 29th, there was short interest totalling 1,990,000 shares, a drop of 8.7% from the November 14th total of 2,180,000 shares. Approximately 6.4% of the company’s stock are short sold. Based on an average daily volume of 312,700 shares, the short-interest ratio is currently 6.4 days.

A number of equities analysts have recently issued reports on VRS shares. Zacks Investment Research upgraded shares of Verso from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Saturday, October 5th. B. Riley upgraded shares of Verso from a “neutral” rating to a “buy” rating and increased their price objective for the company from $16.00 to $24.00 in a research note on Wednesday, November 13th. Finally, ValuEngine upgraded shares of Verso from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.

NYSE:VRS traded down $0.65 during midday trading on Friday, reaching $17.98. 433,213 shares of the stock traded hands, compared to its average volume of 325,130. Verso has a 12-month low of $9.61 and a 12-month high of $26.18. The business has a 50-day moving average of $17.01 and a two-hundred day moving average of $15.19. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.70 and a current ratio of 2.04. The stock has a market capitalization of $636.82 million, a PE ratio of 4.86 and a beta of 2.12.

Verso (NYSE:VRS) last posted its earnings results on Tuesday, November 12th. The basic materials company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $1.02. Verso had a net margin of 1.57% and a return on equity of 15.45%. The company had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $629.70 million. Research analysts anticipate that Verso will post 3.1 earnings per share for the current year.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Verso by 11.7% during the second quarter. Vanguard Group Inc. now owns 3,132,813 shares of the basic materials company’s stock valued at $59,680,000 after acquiring an additional 327,462 shares during the last quarter. Oaktree Capital Management LP lifted its position in Verso by 38.5% during the second quarter. Oaktree Capital Management LP now owns 1,331,319 shares of the basic materials company’s stock valued at $25,361,000 after acquiring an additional 370,000 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Verso by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 1,115,693 shares of the basic materials company’s stock valued at $21,053,000 after acquiring an additional 14,605 shares during the last quarter. Skylands Capital LLC lifted its position in Verso by 16.2% during the third quarter. Skylands Capital LLC now owns 716,400 shares of the basic materials company’s stock valued at $8,869,000 after acquiring an additional 100,000 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Verso by 51.8% during the second quarter. Wells Fargo & Company MN now owns 697,807 shares of the basic materials company’s stock valued at $13,293,000 after acquiring an additional 238,193 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

About Verso

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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