Short Interest in TerrAscend Corp. (OTCMKTS:TSNDF) Expands By 90.1%

TerrAscend Corp. (OTCMKTS:TSNDF) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 1,311,616 shares, an increase of 90.1% from the April 15th total of 690,140 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average trading volume of 1,739,639 shares, the days-to-cover ratio is currently 0.8 days.

Analysts Set New Price Targets

Separately, Zacks Research upgraded TerrAscend from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, TerrAscend has an average rating of “Buy”.

TerrAscend Stock Up 8.7%

OTCMKTS TSNDF traded up $0.05 on Monday, reaching $0.67. The company had a trading volume of 177,713 shares, compared to its average volume of 366,860. The company’s fifty day moving average is $0.68 and its 200-day moving average is $0.67. The firm has a market capitalization of $207.91 million, a price-to-earnings ratio of -6.74 and a beta of 1.42. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.98 and a current ratio of 1.51. TerrAscend has a 1-year low of $0.23 and a 1-year high of $1.45.

TerrAscend (OTCMKTS:TSNDF) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $65.54 million during the quarter, compared to the consensus estimate of $65.25 million. TerrAscend had a negative net margin of 44.87% and a negative return on equity of 24.69%. On average, research analysts forecast that TerrAscend will post -0.08 earnings per share for the current fiscal year.

TerrAscend Company Profile

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.