TerrAscend Corp. (OTCMKTS:TSNDF) Short Interest Up 53.8% in March

TerrAscend Corp. (OTCMKTS:TSNDF) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 2,621,900 shares, a growth of 53.8% from the February 28th total of 1,704,200 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 1,976,300 shares, the days-to-cover ratio is presently 1.3 days.

TerrAscend Trading Down 3.1 %

Shares of TerrAscend stock opened at $0.47 on Tuesday. The company has a 50 day simple moving average of $0.52 and a two-hundred day simple moving average of $0.77. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.35 and a quick ratio of 0.69. The firm has a market cap of $137.76 million, a PE ratio of -1.68 and a beta of 1.64. TerrAscend has a 1 year low of $0.38 and a 1 year high of $2.20.

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

Analyst Ratings Changes

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

About TerrAscend

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.