On September 25, 2023, JW Asset Management, LLC (Trades, Portfolio) made a significant addition to its portfolio by acquiring 30,000 shares of TerrAscend Corp (TSNDF, Financial). This transaction saw the firm's total holdings in TerrAscend Corp rise to 90,232,476 shares, representing a 68.27% position in the firm's portfolio and a 31.44% stake in the traded stock. The shares were purchased at a price of $2.08 each, resulting in a 0.02% impact on the firm's portfolio. The trade change was 0.03, indicating a slight increase in the firm's holdings.
About JW Asset Management, LLC (Trades, Portfolio)
JW Asset Management, LLC (Trades, Portfolio), a firm based in Armonk, New York, is known for its strategic investment philosophy. The firm's equity stands at $275 million, spread across 10 stocks. Its 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
Founded in Canada, TerrAscend Corp (TSNDF, Financial) went public on November 16, 2017. The company is dedicated to creating and delivering high-quality cannabis products and services that cater to the evolving needs of patients. It also offers education and support programs to physicians and patients through healthcare professionals. The company operates in a single segment, focusing on the cultivation, production, and sale of cannabis products. Its subsidiaries are located in Canada and the United States. The company's market cap stands at $586.721 million, with a current stock price of $2.05.
Performance and Financial Health of TerrAscend Corp
Despite a PE percentage of 0.00, indicating the company is at a loss, TerrAscend Corp's GF Value is $5.70, suggesting the stock is undervalued. However, the GF Valuation warns of a possible value trap, advising investors to think twice. The stock's price to GF Value is 0.36, and it has seen a -1.44% change since the transaction. Since its IPO, the stock has gained 28.93%, and its YTD percent stands at 84.55%. The company's GF Score is 56/100, indicating poor future performance potential. Its Financial Strength and Profitability Rank are 4/10 and 2/10 respectively, while its Growth Rank is 0/10. The GF Value Rank and Momentum Rank are 4/10 and 10/10 respectively.
Growth and Momentum of TerrAscend Corp
Despite a gross margin growth and operating margin growth of 0.00, TerrAscend Corp has seen a revenue growth of 17.80% over the past three years. Its EBITDA growth over the same period is 11.90%, and its earning growth is 4.70%. The company's revenue growth 3-year rank is 173. The RSI 5 Day, RSI 9 Day, and RSI 14 Day are 42.18, 48.46, and 52.93 respectively. The momentum index 6 - 1 month and momentum index 12 - 1 month are 11.16 and 21.97 respectively.
In conclusion, JW Asset Management, LLC (Trades, Portfolio)'s recent acquisition of TerrAscend Corp shares is a strategic move that significantly boosts its stake in the company. Despite TerrAscend Corp's current financial performance and growth potential, the firm's investment could yield significant returns in the long run. This transaction is a noteworthy development for value investors, offering insights into the investment strategies of leading firms. As always, investors are advised to conduct thorough research and consider various factors before making investment decisions.