TerrAscend Corp. (OTCMKTS:TSNDF) Sees Large Growth in Short Interest

TerrAscend Corp. (OTCMKTS:TSNDF) was the target of a significant growth in short interest in 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 daily trading volume, of 245,700 shares, the days-to-cover ratio is presently 8.2 days.

Analyst Ratings Changes

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

TerrAscend Stock Performance

Shares of OTCMKTS:TSNDF traded down $0.03 during trading hours on Tuesday, hitting $1.12. 153,277 shares of the company’s stock traded hands, compared to its average volume of 339,817. The company’s fifty day simple moving average is $1.23 and its two-hundred day simple moving average is $1.41. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.69 and a current ratio of 1.35. TerrAscend has a 52 week low of $1.07 and a 52 week high of $2.45.

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

About TerrAscend

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.