TerrAscend (OTCMKTS:TSNDF) Trading 16.1% Higher – Here’s What Happened

TerrAscend Corp. (OTCMKTS:TSNDF) traded up 16.1% on Tuesday . The stock traded as high as $0.65 and last traded at $0.65. 484,959 shares traded hands during trading, an increase of 54% from the average session volume of 314,862 shares. The stock had previously closed at $0.56.

Analysts Set New Price Targets

Separately, Atb Cap Markets cut TerrAscend from a “strong-buy” rating to a “hold” rating in a report on Monday, December 9th.

TerrAscend Stock Up 16.1 %

The company has a quick ratio of 0.69, a current ratio of 1.35 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average price of $0.63 and a 200-day moving average price of $1.00.

TerrAscend (OTCMKTS:TSNDF) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The firm had revenue of $74.17 million for the quarter, compared to analysts’ expectations of $77.15 million. TerrAscend had a negative net margin of 23.95% and a negative return on equity of 31.48%. Equities analysts predict that TerrAscend Corp. will post -0.14 earnings per share 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.