TerrAscend (OTCMKTS:TSNDF) Trading Down 1.9% – Here’s Why

TerrAscend Corp. (OTCMKTS:TSNDF)’s share price dropped 1.9% during trading on Tuesday . The stock traded as low as $0.61 and last traded at $0.6286. 356,279 shares changed hands during trading, an increase of 8% from the average session volume of 331,349 shares. The stock had previously closed at $0.6410.

TerrAscend Trading Down 1.9%

The company has a quick ratio of 0.98, a current ratio of 1.51 and a debt-to-equity ratio of 2.66. The business’s 50 day moving average is $0.69 and its 200-day moving average is $0.69. The firm has a market cap of $194.59 million, a P/E ratio of -6.29 and a beta of 1.37.

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). TerrAscend had a negative net margin of 45.86% and a negative return on equity of 24.69%. The company had revenue of $65.54 million during the quarter, compared to analyst estimates of $65.25 million. As a group, analysts forecast that TerrAscend Corp. will post -0.08 earnings per share for the current fiscal 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.