Tilray (NASDAQ:TLRY) Price Target Raised to $3.00

Tilray (NASDAQ:TLRYFree Report) had its price objective hoisted by Canaccord Genuity Group from $2.00 to $3.00 in a research report report published on Monday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Separately, Roth Mkm reduced their target price on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Tilray presently has an average rating of “Hold” and a consensus price target of $2.70.

View Our Latest Stock Analysis on Tilray

Tilray Price Performance

Shares of NASDAQ TLRY opened at $1.18 on Monday. The stock has a fifty day moving average price of $1.33 and a 200 day moving average price of $1.61. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. Tilray has a 12-month low of $1.14 and a 12-month high of $2.97.

Tilray (NASDAQ:TLRYGet Free Report) last posted its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The company had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, analysts expect that Tilray will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the purchase, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TLRY. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray in the 3rd quarter valued at about $26,000. Ameritas Advisory Services LLC bought a new stake in Tilray in the fourth quarter valued at about $32,000. Vista Capital Partners Inc. acquired a new stake in Tilray during the third quarter valued at approximately $42,000. International Assets Investment Management LLC lifted its holdings in Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after buying an additional 18,208 shares during the last quarter. Finally, Capital Management Associates Inc acquired a new position in shares of Tilray in the 3rd quarter worth approximately $45,000. 9.35% of the stock is currently owned by institutional investors.

About Tilray

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Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.

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