TerrAscend (OTCMKTS:TSNDF) Shares Up 6.1% - What's Next?

Key Points

• TerrAscend Corp. shares surged by 6.1% on Wednesday, reaching a trading high of $0.96 before closing at $0.87.
• Analysts have given TerrAscend a "strong-buy" rating, with two reports indicating positive sentiment regarding its stock performance.
• In its recent quarterly earnings, the company reported a revenue of $65.01 million, although it missed the earnings per share estimate by $0.01.

TerrAscend Corp. (OTCMKTS:TSNDF - Get Free Report) shot up 6.1% on Wednesday . The company traded as high as $0.96 and last traded at $0.87. 539,260 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 672,292 shares. The stock had previously closed at $0.82.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upgraded shares of TerrAscend to a "strong-buy" rating in a report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has an average rating of "Strong Buy".

TerrAscend Stock Performance

The company has a debt-to-equity ratio of 1.94, a current ratio of 1.45 and a quick ratio of 1.07. The firm has a market capitalization of $266.43 million, a PE ratio of -2.12 and a beta of 1.47. The firm has a fifty day moving average price of $0.87 and a 200 day moving average price of $0.52.

TerrAscend (OTCMKTS:TSNDF - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). TerrAscend had a negative return on equity of 23.19% and a negative net margin of 40.86%.The company had revenue of $65.01 million for the quarter, compared to analyst estimates of $64.87 million. Research analysts anticipate that TerrAscend Corp. will post -0.14 earnings per share for the current fiscal year.

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.

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