TerrAscend Corp. (OTCMKTS:TSNDF) Sees Large Growth in Short Interest

TerrAscend Corp. (OTCMKTS:TSNDF) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,621,900 shares, an increase of 53.8% from the February 28th total of 1,704,200 shares. Based on an average daily volume of 1,976,300 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.3% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, Atb Cap Markets cut TerrAscend from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 9th.

TerrAscend Price Performance

OTCMKTS TSNDF opened at $0.47 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.35 and a quick ratio of 0.69. TerrAscend has a 1-year low of $0.38 and a 1-year high of $2.20. The stock has a market capitalization of $137.76 million, a price-to-earnings ratio of -1.68 and a beta of 1.64. The business’s fifty day moving average price is $0.52 and its 200-day moving average price is $0.77.

TerrAscend (OTCMKTS:TSNDF) last posted its quarterly earnings data on Thursday, March 6th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. TerrAscend had a negative net margin of 23.95% and a negative return on equity of 31.48%. The company had revenue of $74.35 million for the quarter, compared to the consensus estimate of $72.37 million. On average, equities analysts predict that TerrAscend will post -0.14 earnings per share for the current year.

About TerrAscend

TerrAscend Corp. cultivates, processes, and sells medical and adult use cannabis in Canada and the United States. The company produces and distributes hemp-derived wellness products to retail locations; and manufactures vaporizables, concentrates, topicals, tinctures and edibles. It also operates retail dispensaries under the Apothecarium and State Flower brand names.