On September 12, 2023, JW Asset Management, LLC added 15,000 shares of TerrAscend Corp (TSNDF, Financial) to its portfolio. The shares were acquired at a price of $2.11 each, bringing the firm's total holdings in TerrAscend Corp to 90,030,026 shares. This transaction had a 0.01% impact on the firm's portfolio and increased its position in TerrAscend Corp by 0.02%. The firm now holds a 69.11% stake in TerrAscend Corp, representing 31.37% of the company's total shares.
About JW Asset Management, LLC
JW Asset Management, LLC is a New York-based investment firm. The firm's investment philosophy is centered around identifying and investing in high-quality companies with strong growth potential. As of the date of this article, the firm holds 10 stocks in its portfolio, with a total equity of $275 million. The firm's top holdings include Catalyst Pharmaceuticals Inc (CPRX, Financial), Eli Lilly and Co (LLY, Financial), Novo Nordisk A/S (NVO, Financial), Celsius Holdings Inc (CELH, Financial), and Establishment Labs Holdings Inc (ESTA, Financial). The firm's investments are primarily concentrated in the Healthcare and Consumer Defensive sectors.
Overview of TerrAscend Corp
TerrAscend Corp (TSNDF, Financial) is a Canadian company that specializes in the cultivation, production, and sale of cannabis products. The company, which went public on November 16, 2017, is committed to creating and delivering quality cannabis products and services that meet the evolving needs of patients. It also provides education and support programs to physicians and patients through healthcare professionals. The company operates as a single segment, with subsidiaries located in Canada and the United States.
As of the date of this article, TerrAscend Corp has a market capitalization of $632.949 million and its shares are trading at $2.19. The company's GF Score is 54/100, indicating poor future performance potential. The company's Financial Strength is ranked 4/10, its Profitability Rank is 2/10, its Growth Rank is 0/10, its GF Value Rank is 4/10, and its Momentum Rank is 7/10.
Performance and Growth of TerrAscend Corp
TerrAscend Corp's performance and growth have been mixed. The company's Piotroski F-Score is 4, indicating average financial health. Its Altman Z score is -1.39, suggesting potential financial distress. The company's cash to debt ratio is 0.12, ranking it 861st in the Drug Manufacturers industry. The company's ROE and ROA are -99.14 and -44.13 respectively, ranking it 920th and 927th in the industry.
In terms of growth, TerrAscend Corp has seen a 17.80% increase in revenue over the past three years, ranking it 174th in the industry. However, the company's gross margin growth and operating margin growth are both 0.00%, indicating no growth in these areas. The company's EBITDA growth over the past three years is 11.90%, and its earnings growth over the same period is 4.70%.
Momentum of TerrAscend Corp
TerrAscend Corp's momentum indicators show mixed results. The company's RSI 5 Day is 51.61, its RSI 9 Day is 61.97, and its RSI 14 Day is 63.65, ranking it 1022nd in the industry. The company's Momentum Index 6 - 1 Month is 6.29, ranking it 458th in the industry. However, its Momentum Index 12 - 1 Month is 1.20, indicating a decrease in momentum over the past month.
Conclusion
In conclusion, JW Asset Management, LLC's recent acquisition of additional shares in TerrAscend Corp represents a significant increase in its stake in the company. Despite TerrAscend Corp's mixed performance and growth indicators, the firm's increased investment suggests confidence in the company's future prospects. This transaction could potentially have significant implications for value investors, and it will be interesting to monitor the impact of this transaction on both the stock and the guru's portfolio in the coming months.
