TerrAscend (OTCMKTS:TSNDF) Trading Up 4.2% – Still a Buy?

TerrAscend Corp. (OTCMKTS:TSNDF) shot up 4.2% during mid-day trading on Thursday . The stock traded as high as $0.6351 and last traded at $0.62. 131,810 shares were traded during mid-day trading, a decline of 44% from the average session volume of 237,137 shares. The stock had previously closed at $0.5951.

TerrAscend Stock Performance

The firm has a fifty day simple moving average of $0.58 and a 200-day simple moving average of $0.64. The company has a quick ratio of 1.20, a current ratio of 1.83 and a debt-to-equity ratio of 2.37. The company has a market cap of $191.69 million, a PE ratio of -5.64 and a beta of 1.39.

TerrAscend (OTCMKTS:TSNDF) last posted its earnings results on Thursday, August 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The firm had revenue of $67.12 million during the quarter, compared to analysts’ expectations of $66.05 million. TerrAscend had a negative net margin of 31.01% and a negative return on equity of 32.93%. On average, research analysts forecast that TerrAscend Corp. will post -0.07 EPS for the current fiscal year.

TerrAscend Company Profile

TerrAscend is a vertically integrated cannabis company that operates across cultivation, processing and retailing in North America. The company’s business model spans seed-to-sale activities, enabling it to manage quality control, production efficiency and product innovation from its growing facilities through to its distribution networks. TerrAscend serves both adult-use and medical cannabis markets, offering a full suite of cannabis derivatives including dried flower, concentrates, vapes, edibles, tinctures and topicals.

Geographically, TerrAscend maintains operations in key regulated markets.