TerrAscend (OTCMKTS:TSNDF) Downgraded to Strong Sell Rating by Zacks Research

TerrAscend (OTCMKTS:TSNDF) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Separately, Canaccord Genuity Group upgraded shares of TerrAscend to a “strong-buy” rating in a research note on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

TerrAscend Stock Performance

Shares of TerrAscend stock opened at $0.78 on Monday. The firm’s fifty day simple moving average is $0.66 and its 200-day simple moving average is $0.69. TerrAscend has a 12 month low of $0.23 and a 12 month high of $1.45. The stock has a market capitalization of $236.24 million, a price-to-earnings ratio of -1.89 and a beta of 1.41. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.56 and a quick ratio of 1.12.

TerrAscend (OTCMKTS:TSNDF) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). TerrAscend had a negative return on equity of 18.32% and a negative net margin of 42.72%.The business had revenue of $65.10 million for the quarter, compared to analyst estimates of $65.97 million. As a group, equities analysts forecast that TerrAscend will post -0.14 earnings per share for the current year.

About TerrAscend

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.