TerrAscend Corp. (OTCMKTS:TSNDF) Short Interest Update

TerrAscend Corp. (OTCMKTS:TSNDF) was the target of a significant increase in short interest in 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. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 1,976,300 shares, the days-to-cover ratio is currently 1.3 days.

Analyst Upgrades and Downgrades

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

TerrAscend Price Performance

Shares of TerrAscend stock opened at $0.49 on Monday. The company has a quick ratio of 0.69, a current ratio of 1.35 and a debt-to-equity ratio of 0.81. TerrAscend has a 52 week low of $0.38 and a 52 week high of $2.20. The stock’s 50-day simple moving average is $0.52 and its 200-day simple moving average is $0.77. The company has a market capitalization of $142.16 million, a price-to-earnings ratio of -1.73 and a beta of 1.64.

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

TerrAscend Company Profile

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.