TerrAscend Corp. (OTCMKTS:TSNDF) Short Interest Up 37.0% in August

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

Analysts Set New Price Targets

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

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 company were exchanged, compared to its average volume of 368,503. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.35 and a quick ratio of 0.69. The firm’s fifty day moving average price is $1.35 and its 200 day moving average price is $1.54. TerrAscend has a 1-year low of $1.07 and a 1-year high of $2.45.

TerrAscend (OTCMKTS:TSNDF) last released 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 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%. Sell-side analysts anticipate that TerrAscend will post -0.14 earnings per share for the current fiscal year.

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.