Verso (NYSE:VRS) Share Price Crosses Above Two Hundred Day Moving Average of $15.15

Shares of Verso Corp (NYSE:VRS) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.15 and traded as high as $16.35. Verso shares last traded at $16.28, with a volume of 10,636 shares traded.

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

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.04 and a quick ratio of 0.70. The company has a market cap of $574.70 million, a P/E ratio of 4.42 and a beta of 2.08. The stock has a 50-day moving average of $17.74 and a 200 day moving average of $15.11.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen Asset Management LLC increased its position in shares of Verso by 3,665.5% in the second quarter. Nuveen Asset Management LLC now owns 455,584 shares of the basic materials company’s stock worth $8,679,000 after purchasing an additional 443,485 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Verso by 97.3% in the second quarter. UBS Asset Management Americas Inc. now owns 26,683 shares of the basic materials company’s stock worth $508,000 after purchasing an additional 13,159 shares during the period. Macquarie Group Ltd. increased its position in shares of Verso by 241.0% in the second 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 during the period. Lingohr & Partner Asset Management GmbH increased its position in shares of Verso by 107.4% in the third quarter. Lingohr & Partner Asset Management GmbH now owns 46,930 shares of the basic materials company’s stock worth $581,000 after purchasing an additional 24,300 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Verso by 11.7% in 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 buying an additional 327,462 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

About Verso (NYSE:VRS)

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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