TerrAscend Corp. (OTCMKTS:TSNDF) Sees Significant Increase in Short Interest

TerrAscend Corp. (OTCMKTS:TSNDF) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 2,022,200 shares, a growth of 18.7% from the September 30th total of 1,704,000 shares. Based on an average trading volume of 245,700 shares, the short-interest ratio is presently 8.2 days.

TerrAscend Stock Performance

Shares of OTCMKTS TSNDF opened at $1.09 on Wednesday. TerrAscend has a 1 year low of $1.07 and a 1 year high of $2.45. The firm has a 50-day simple moving average of $1.23 and a two-hundred day simple moving average of $1.41. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.35 and a quick ratio of 0.69.

TerrAscend (OTCMKTS:TSNDF) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $77.52 million during the quarter, compared to analysts’ expectations of $80.70 million. TerrAscend had a negative return on equity of 31.48% and a negative net margin of 23.95%. As a group, research analysts anticipate that TerrAscend will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Ventum Cap Mkts upgraded shares of TerrAscend to a “strong-buy” rating in a report on Friday, August 9th.

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.