Verso (NYSE:VRS) Trading 15.3% Higher

Verso Corp (NYSE:VRS) rose 15.3% during trading on Monday . The stock traded as high as $11.95 and last traded at $11.88, approximately 308,822 shares traded hands during mid-day trading. A decline of 9% from the average daily volume of 340,611 shares. The stock had previously closed at $10.30.

Several equities research analysts have issued reports on the company. BWS Financial cut their price target on Verso from $50.00 to $35.00 and set a “strong-buy” rating for the company in a report on Monday, March 16th. ValuEngine cut Verso from a “hold” rating to a “sell” rating in a research report on Thursday.

The stock has a 50 day moving average of $14.14 and a 200 day moving average of $15.54. The company has a market capitalization of $362.35 million, a price-to-earnings ratio of 4.42 and a beta of 2.05.

Verso (NYSE:VRS) last issued its earnings results on Thursday, February 27th. The basic materials company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.12. The business had revenue of $587.00 million during the quarter, compared to the consensus estimate of $605.24 million. Verso had a return on equity of 12.29% and a net margin of 3.93%. On average, research analysts anticipate that Verso Corp will post 1.36 EPS for the current fiscal year.

In other Verso news, Director Jeffrey E. Kirt bought 10,000 shares of the stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $11.45 per share, for a total transaction of $114,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.45% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRS. California State Teachers Retirement System increased its holdings in shares of Verso by 1.2% during the third quarter. California State Teachers Retirement System now owns 54,330 shares of the basic materials company’s stock valued at $673,000 after acquiring an additional 649 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Verso by 13.6% during the third quarter. Public Employees Retirement System of Ohio now owns 31,337 shares of the basic materials company’s stock valued at $388,000 after buying an additional 3,751 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of Verso by 157.4% during the fourth quarter. New York State Teachers Retirement System now owns 7,978 shares of the basic materials company’s stock valued at $144,000 after buying an additional 4,878 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Verso by 155.7% during the fourth quarter. California Public Employees Retirement System now owns 45,491 shares of the basic materials company’s stock valued at $820,000 after buying an additional 27,700 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Verso in the fourth quarter worth $115,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Verso Company Profile (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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