TerrAscend (OTCMKTS:TSNDF) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

TerrAscend (OTCMKTS:TSNDF) posted its quarterly earnings results on Thursday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02), Zacks reports. TerrAscend had a negative return on equity of 23.19% and a negative net margin of 40.86%.

TerrAscend Price Performance

TerrAscend stock traded down $0.09 during mid-day trading on Thursday, reaching $0.59. The company had a trading volume of 460,636 shares, compared to its average volume of 637,036. TerrAscend has a 1 year low of $0.23 and a 1 year high of $1.25. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.45 and a quick ratio of 1.07. The company has a market capitalization of $180.74 million, a P/E ratio of -1.44 and a beta of 1.45. The stock’s 50-day simple moving average is $0.82 and its 200-day simple moving average is $0.57.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group raised shares of TerrAscend to a “strong-buy” rating in a report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, According to MarketBeat, TerrAscend has a consensus rating of “Strong Buy”.

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.