TerrAscend (OTCMKTS:TRSSF) Price Target Cut to C$5.50 by Analysts at Stifel Nicolaus

TerrAscend (OTCMKTS:TRSSFGet Rating) had its price objective reduced by stock analysts at Stifel Nicolaus from C$6.00 to C$5.50 in a research report issued on Friday, The Fly reports.

Other research analysts have also issued research reports about the company. Seaport Res Ptn reissued a “buy” rating on shares of TerrAscend in a report on Friday, July 22nd. Echelon Wealth Partners restated a “hold” rating on shares of TerrAscend in a research report on Friday, May 13th. Craig Hallum lowered shares of TerrAscend from a “buy” rating to a “hold” rating and cut their target price for the stock from $7.50 to $2.00 in a research report on Friday. Needham & Company LLC lowered their price target on TerrAscend from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Cantor Fitzgerald cut TerrAscend from an “overweight” rating to a “neutral” rating in a report on Friday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, TerrAscend currently has an average rating of “Moderate Buy” and a consensus price target of $5.48.

TerrAscend Stock Performance

OTCMKTS TRSSF traded up $0.11 on Friday, hitting $2.40. The stock had a trading volume of 860,090 shares, compared to its average volume of 518,936. The firm has a 50-day moving average of $2.68 and a 200-day moving average of $4.23. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.83 and a current ratio of 1.26. TerrAscend has a 52-week low of $2.17 and a 52-week high of $8.81.

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TerrAscend (OTCMKTS:TRSSFGet Rating) last issued its quarterly earnings data on Thursday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The company had revenue of $49.66 million during the quarter, compared to the consensus estimate of $56.35 million. Analysts forecast that TerrAscend will post -0.1 EPS for the current year.

About TerrAscend

(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.

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Analyst Recommendations for TerrAscend (OTCMKTS:TRSSF)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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