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

TerrAscend Corp. (OTCMKTS:TSNDF) saw a significant decrease in short interest in May. As of May 15th, there was short interest totaling 692,277 shares, a decrease of 47.2% from the April 30th total of 1,311,616 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 698,013 shares, the short-interest ratio is currently 1.0 days.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised TerrAscend from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

TerrAscend Price Performance

Shares of OTCMKTS TSNDF traded down $0.01 during trading on Tuesday, hitting $0.71. The company had a trading volume of 85,374 shares, compared to its average volume of 303,115. The company has a market cap of $219.76 million, a P/E ratio of -7.10 and a beta of 1.37. TerrAscend has a 52 week low of $0.23 and a 52 week high of $1.45. The business’s 50-day moving average is $0.68 and its 200 day moving average is $0.67. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.98 and a current ratio of 1.51.

TerrAscend (OTCMKTS:TSNDF) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $65.54 million during the quarter, compared to the consensus estimate of $65.25 million. TerrAscend had a negative net margin of 45.86% and a negative return on equity of 24.69%. Equities research analysts predict that TerrAscend will post -0.08 earnings per share for the current fiscal year.

TerrAscend Company Profile

TerrAscend is a vertically integrated cannabis company that operates across cultivation, processing and retailing in North America. The company’s business model spans seed-to-sale activities, enabling it to manage quality control, production efficiency and product innovation from its growing facilities through to its distribution networks. TerrAscend serves both adult-use and medical cannabis markets, offering a full suite of cannabis derivatives including dried flower, concentrates, vapes, edibles, tinctures and topicals.

Geographically, TerrAscend maintains operations in key regulated markets.