On September 28, 2023, JW Asset Management, LLC (Trades, Portfolio) made a significant addition to its portfolio by acquiring 75,000 shares of TerrAscend Corp (TSNDF, Financial). This transaction has increased the firm's total holdings in TerrAscend Corp to 90,307,476 shares, representing 66.99% of its portfolio. The shares were purchased at a price of $2.04 each, making the trade impact 0.06%. The firm now holds a 31.47% stake in TerrAscend Corp.
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 currently holds 10 stocks in its portfolio, with a total equity of $275 million. 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
TerrAscend Corp (TSNDF, Financial), a Canadian company, made its initial public offering on November 16, 2017. The company is focused on 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 in a single segment, with subsidiaries located in Canada and the United States.
As of September 30, 2023, TerrAscend Corp has a market capitalization of $593.493 million and a current stock price of $2.05. The company's PE percentage is 0.00, indicating that it is currently operating at a loss. According to GuruFocus, the stock's GF Value is $5.76, suggesting that it may be a possible value trap and investors should think twice before investing. The stock's price to GF Value is 0.36.
Performance and Financial Health of TerrAscend Corp
Since its IPO, TerrAscend Corp has seen a price change of 28.93%. The year-to-date price change ratio stands at 84.55%. The company's GF Score is 56/100, indicating poor future performance potential. The company's Financial Strength is ranked 4/10, while its Profitability Rank is 2/10. The Growth Rank is 0/10, indicating no growth in the recent past.
The company's Piotroski F-Score is 4, suggesting average business operations. The Altman Z score is -1.41, indicating potential financial distress. The cash to debt ratio is 0.12, which is lower than the industry average. The company's ROE and ROA are -99.14 and -44.13 respectively, indicating poor profitability and asset utilization.
Conclusion
In conclusion, JW Asset Management, LLC (Trades, Portfolio)'s recent acquisition of additional shares in TerrAscend Corp is a significant move that increases its stake in the company. However, potential investors should be cautious due to TerrAscend Corp's poor financial performance and potential value trap status. As always, it is crucial for investors to conduct thorough research and consider various factors before making investment decisions.
