On September 13, 2023, JW Asset Management, LLC, the Executive Chairman and 10% Owner of TerrAscend Corp (TSNDF, Financial), purchased 5,000 shares of the company. This move by the insider has sparked interest among investors and analysts alike, as insider buying often signals a bullish outlook on the company's stock.
JW Asset Management, LLC is a New York-based investment management firm with a strong focus on the healthcare sector. The firm is known for its strategic investments and has a significant stake in TerrAscend Corp, a leading North American cannabis company with a focus on quality and consistency. TerrAscend Corp operates in several segments of the cannabis market, including cultivation, manufacturing, and retail sales. The company's operations span across the United States, Canada, and Europe.
Over the past year, JW Asset Management, LLC has been actively trading TerrAscend Corp's shares. The firm has purchased a total of 1,238,952 shares and sold 2,149,847 shares. This recent purchase of 5,000 shares is a notable shift in the insider's trading pattern.
The insider transaction history for TerrAscend Corp reveals a total of 20 insider buys over the past year, compared to just 2 insider sells. This trend suggests a positive sentiment among the insiders towards the company's stock.
On the day of the insider's recent buy, TerrAscend Corp's shares were trading at $2.1 each, giving the company a market cap of $627.288 million.
With a price of $2.1 and a GuruFocus Value of $5.68, TerrAscend Corp has a price-to-GF-Value ratio of 0.37. This indicates that the stock is currently undervalued and could be a potential value trap. Investors should exercise caution and conduct thorough research before making any investment decisions.
The GF Value is an intrinsic value estimate developed by GuruFocus. It is calculated based on historical multiples (price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow) that the stock has traded at, a GuruFocus adjustment factor based on the company’s past returns and growth, and future estimates of business performance from Morningstar analysts.
In conclusion, the recent insider buying activity at TerrAscend Corp by JW Asset Management, LLC could signal a positive outlook on the company's stock. However, given the stock's current valuation, investors should proceed with caution and conduct further analysis.
