TerrAscend (OTCMKTS:TSNDF) Issues Earnings Results

Key Points

• TerrAscend reported quarterly earnings of ($0.03) per share, missing the consensus estimate of ($0.02) by ($0.01), indicating continued financial struggles.
• The company has a negative net margin of 25.27% and a negative return on equity of 20.23%, highlighting challenges in profitability.
• Despite the earnings miss, Atb Cap Markets upgraded TerrAscend from a "hold" rating to a "strong-buy" rating, potentially indicating optimism among analysts.

TerrAscend (OTCMKTS:TSNDF - Get Free Report) announced its earnings results on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01), Zacks reports. TerrAscend had a negative net margin of 40.86% and a negative return on equity of 21.15%. The business had revenue of $65.01 million for the quarter, compared to analysts' expectations of $64.87 million.

TerrAscend Price Performance

Shares of OTCMKTS:TSNDF traded up $0.04 during midday trading on Friday, reaching $0.55. 855,846 shares of the company's stock traded hands, compared to its average volume of 550,775. TerrAscend has a 1 year low of $0.23 and a 1 year high of $1.75. The company has a market cap of $169.80 million, a P/E ratio of -1.35 and a beta of 1.39. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.70 and a current ratio of 1.31. The company has a fifty day simple moving average of $0.34 and a two-hundred day simple moving average of $0.40.

Analyst Upgrades and Downgrades

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

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.