TerrAscend (OTCMKTS:TSNDF) Shares Up 8.8% - Here's Why

Key Points

• Shares rose 8.8% to $0.7561 on Tuesday, with 346,884 shares traded—down 44% from the average session volume of 617,049.
• Zacks upgraded TerrAscend from "strong sell" to "hold," and MarketBeat shows a consensus "Buy" rating (two Strong Buy, one Hold).
• TerrAscend is a vertically integrated North American cannabis company with a market cap of $233.2M, a high debt-to-equity ratio of 2.42 and a negative P/E of -1.84.

TerrAscend Corp. (OTCMKTS:TSNDF - Get Free Report)'s share price shot up 8.8% during trading on Tuesday . The company traded as high as $0.7561 and last traded at $0.7561. 346,884 shares were traded during trading, a decline of 44% from the average session volume of 617,049 shares. The stock had previously closed at $0.6947.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded TerrAscend from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy".

TerrAscend Trading Up 8.8%

The company has a debt-to-equity ratio of 2.42, a current ratio of 1.38 and a quick ratio of 0.95. The business's 50-day moving average price is $0.67 and its two-hundred day moving average price is $0.68. The company has a market capitalization of $233.20 million, a price-to-earnings ratio of -1.84 and a beta of 1.42.

About TerrAscend

TerrAscend is a vertically integrated cannabis company that operates across cultivation, processing and retailing in North America. The company's business model spans seed-to-sale activities, enabling it to manage quality control, production efficiency and product innovation from its growing facilities through to its distribution networks. TerrAscend serves both adult-use and medical cannabis markets, offering a full suite of cannabis derivatives including dried flower, concentrates, vapes, edibles, tinctures and topicals.

Geographically, TerrAscend maintains operations in key regulated markets.

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