Verso Corp (NYSE:VRS) Short Interest Down 5.1% in June

Verso Corp (NYSE:VRS) was the target of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 2,041,500 shares, a decline of 5.1% from the May 15th total of 2,151,200 shares. Approximately 5.9% of the shares of the company are short sold. Based on an average daily volume of 304,500 shares, the days-to-cover ratio is presently 6.7 days.

A number of analysts have recently commented on the company. Zacks Investment Research raised Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Friday. ValuEngine lowered Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Finally, B. Riley set a $169.00 target price on Intercept Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $32.00.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc grew its stake in Verso by 24.3% in the fourth quarter. Legal & General Group Plc now owns 6,504 shares of the basic materials company’s stock valued at $145,000 after purchasing an additional 1,272 shares in the last quarter. Cadence Capital Management LLC lifted its position in shares of Verso by 1.8% in the first quarter. Cadence Capital Management LLC now owns 98,448 shares of the basic materials company’s stock worth $2,109,000 after buying an additional 1,734 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Verso by 3.8% in the fourth quarter. Squarepoint Ops LLC now owns 57,720 shares of the basic materials company’s stock worth $1,293,000 after buying an additional 2,094 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Verso by 2.7% in the fourth quarter. California Public Employees Retirement System now owns 82,815 shares of the basic materials company’s stock worth $1,855,000 after buying an additional 2,181 shares during the last quarter. Finally, Alambic Investment Management L.P. lifted its position in shares of Verso by 5.8% in the first quarter. Alambic Investment Management L.P. now owns 48,716 shares of the basic materials company’s stock worth $1,043,000 after buying an additional 2,654 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Shares of VRS stock traded down $0.20 on Friday, reaching $17.06. 207,596 shares of the company’s stock traded hands, compared to its average volume of 223,730. Verso has a 12-month low of $16.55 and a 12-month high of $34.60. The company has a quick ratio of 0.69, a current ratio of 2.21 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $588.30 million, a P/E ratio of 4.61 and a beta of 1.76. The company has a 50 day moving average of $18.09.

Verso (NYSE:VRS) last issued its earnings results on Wednesday, May 8th. The basic materials company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.68. Verso had a return on equity of 19.09% and a net margin of 7.79%. The firm had revenue of $639.00 million for the quarter, compared to the consensus estimate of $632.26 million. On average, equities research analysts expect that Verso will post 2.85 EPS for the current year.

Verso Company Profile

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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