TerrAscend (OTCMKTS:TSNDF) Stock Price Down 18% – Here’s Why

TerrAscend Corp. (OTCMKTS:TSNDF) dropped 18% on Wednesday. The company traded as low as $0.4978 and last traded at $0.5050. Approximately 1,649,628 shares traded hands during mid-day trading, an increase of 657% from the average session volume of 217,870 shares. The stock had previously closed at $0.6157.

TerrAscend Price Performance

The company has a market cap of $158.95 million, a price-to-earnings ratio of -4.67 and a beta of 1.47. The company’s 50-day simple moving average is $0.60 and its 200-day simple moving average is $0.64. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.83 and a quick ratio of 1.20.

TerrAscend (OTCMKTS:TSNDF) last announced 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, equities research analysts anticipate that TerrAscend Corp. will post -0.07 EPS for the current year.

About TerrAscend

TerrAscend Corp. is a North American cannabis company that cultivates, manufactures and sells cannabis products through a portfolio of brands and retail operations. Its products include cannabis flower, pre-rolls, vaporizer products, concentrates, edibles, tinctures and other related goods, depending on the market.

The company operates in several U.S. cannabis markets, including Pennsylvania, New Jersey, Maryland, Michigan and California. Its retail portfolio has included dispensaries operating under names such as The Apothecarium, Gage and Cookies, while its product brands have included Kind Tree, Legend and Gage.