TerrAscend (OTCMKTS:TSNDF) Shares Up 3.6% – Here’s Why

TerrAscend Corp. (OTCMKTS:TSNDFGet Free Report)’s stock price shot up 3.6% during mid-day trading on Wednesday . The company traded as high as $0.27 and last traded at $0.26. 235,045 shares changed hands during trading, a decline of 54% from the average session volume of 507,821 shares. The stock had previously closed at $0.25.

Analysts Set New Price Targets

Separately, Atb Cap Markets raised TerrAscend from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 8th.

Read Our Latest Stock Report on TSNDF

TerrAscend Stock Performance

The business’s fifty day moving average price is $0.33 and its 200-day moving average price is $0.46. The stock has a market cap of $80.92 million, a PE ratio of -0.98 and a beta of 1.43. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.70 and a current ratio of 1.31.

TerrAscend (OTCMKTS:TSNDFGet Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). TerrAscend had a negative net margin of 25.27% and a negative return on equity of 20.23%. The company had revenue of $71.00 million for the quarter, compared to the consensus estimate of $71.63 million. As a group, equities research analysts forecast that TerrAscend Corp. will post -0.14 EPS for the current fiscal year.

TerrAscend Company Profile

(Get Free Report)

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.

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