TerrAscend Corp. (OTCMKTS:TRSSF) Sees Large Decline in Short Interest

TerrAscend Corp. (OTCMKTS:TRSSFGet Rating) was the recipient of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 277,100 shares, a drop of 61.3% from the March 31st total of 715,700 shares. Based on an average daily volume of 428,900 shares, the short-interest ratio is currently 0.6 days.

TRSSF stock opened at $5.05 on Friday. The business’s 50-day moving average is $5.47 and its two-hundred day moving average is $5.69. The company has a quick ratio of 1.43, a current ratio of 2.04 and a debt-to-equity ratio of 0.77. TerrAscend has a 1 year low of $4.59 and a 1 year high of $12.00.

TerrAscend (OTCMKTS:TRSSFGet Rating) last posted its quarterly earnings results on Wednesday, March 16th. The company reported ($0.03) EPS for the quarter. The business had revenue of $49.20 million for the quarter. On average, equities research analysts predict that TerrAscend will post 0.08 EPS for the current fiscal year.

A number of research analysts have commented on TRSSF shares. Needham & Company LLC started coverage on TerrAscend in a research note on Thursday, March 17th. They set a “buy” rating and a $8.00 price target on the stock. Cantor Fitzgerald increased their target price on TerrAscend from $7.65 to $7.90 and gave the stock an “overweight” rating in a research note on Thursday, March 17th. Atb Cap Markets reaffirmed an “outperform” rating on shares of TerrAscend in a research report on Wednesday, March 16th. Finally, Clarus Securities reissued a “buy” rating on shares of TerrAscend in a research report on Thursday, March 17th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $12.73.

TerrAscend Company Profile (Get Rating)

TerrAscend Corp. cultivates, processes, and sells medical and adult use cannabis in Canada and the United States. It produces and distributes hemp-derived wellness products to retail locations; and manufactures cannabis infused artisan edibles. The company also operates three retail dispensaries under the Apothecarium brand name in California and Pennsylvania.

Further Reading

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