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

TerrAscend Corp. (OTCMKTS:TSNDF) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 2,024,000 shares, a growth of 37.0% from the August 15th total of 1,477,500 shares. Based on an average trading volume of 840,400 shares, the short-interest ratio is currently 2.4 days.

TerrAscend Trading Down 1.3 %

Shares of TerrAscend stock traded down $0.02 during trading on Monday, hitting $1.16. 148,300 shares of the stock were exchanged, compared to its average volume of 368,503. TerrAscend has a 12 month low of $1.07 and a 12 month high of $2.45. The stock’s fifty day moving average is $1.35 and its 200 day moving average is $1.54. The company has a quick ratio of 0.69, a current ratio of 1.35 and a debt-to-equity ratio of 0.81.

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

Analyst Ratings Changes

Separately, Ventum Cap Mkts upgraded TerrAscend to a “strong-buy” rating in a research note 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.