TerrAscend (OTCMKTS:TSNDF) Announces Quarterly 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) issued its quarterly earnings results on Thursday. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01), Zacks reports. TerrAscend had a negative net margin of 40.86% and a negative return on equity of 23.19%. The business had revenue of $65.01 million during the quarter, compared to analysts' expectations of $64.87 million.

TerrAscend Stock Up 2.7%

OTCMKTS:TSNDF traded up $0.02 during midday trading on Tuesday, hitting $0.77. 1,061,898 shares of the company were exchanged, compared to its average volume of 638,590. The company has a fifty day simple moving average of $0.35 and a 200 day simple moving average of $0.40. TerrAscend has a fifty-two week low of $0.23 and a fifty-two week high of $1.75. The company has a current ratio of 1.45, a quick ratio of 1.07 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $235.68 million, a PE ratio of -1.88 and a beta of 1.39.

Analyst Upgrades and Downgrades

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

TerrAscend Company Profile

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.