TerrAscend Corp. (OTCMKTS:TSNDF) Sees Large Drop in Short Interest

TerrAscend Corp. (OTCMKTS:TSNDF - Get Free Report) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 1,956,500 shares, a decrease of 12.3% from the April 30th total of 2,230,400 shares. Currently, 1.0% of the company's stock are short sold. Based on an average trading volume of 1,480,900 shares, the days-to-cover ratio is presently 1.3 days.

Analyst Upgrades and Downgrades

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

TerrAscend Stock Performance

Shares of TSNDF traded down $0.00 during midday trading on Thursday, reaching $0.30. 330,674 shares of the stock were exchanged, compared to its average volume of 634,420. The company has a market capitalization of $88.68 million, a price-to-earnings ratio of -1.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.35 and a quick ratio of 0.69. TerrAscend has a twelve month low of $0.23 and a twelve month high of $1.75. The business's 50-day moving average price is $0.35 and its 200 day moving average price is $0.52.

TerrAscend (OTCMKTS:TSNDF - Get 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). The firm had revenue of $71.00 million during the quarter, compared to analysts' expectations of $71.63 million. TerrAscend had a negative net margin of 23.95% and a negative return on equity of 31.48%. On average, sell-side analysts expect that TerrAscend will post -0.14 EPS for the current fiscal year.

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.