Tilray (NASDAQ:TLRY) Stock Price Up 0.1% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) shares shot up 0.1% on Thursday . The stock traded as high as $0.66 and last traded at $0.64. 7,316,436 shares traded hands during trading, a decline of 77% from the average session volume of 31,308,224 shares. The stock had previously closed at $0.64.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their price target on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.70.

Tilray Stock Performance

The company has a market cap of $609.48 million, a price-to-earnings ratio of -2.17 and a beta of 2.13. The firm’s 50 day simple moving average is $0.91 and its 200-day simple moving average is $1.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The business had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. The business’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts predict that Tilray Inc will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Tilray

A number of large investors have recently made changes to their positions in TLRY. Bank of Montreal Can boosted its stake in Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after buying an additional 7,406 shares during the last quarter. Newman Dignan & Sheerar Inc. raised its holdings in shares of Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after acquiring an additional 10,000 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Tilray by 55.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company’s stock worth $42,000 after acquiring an additional 11,325 shares during the period. NewEdge Advisors LLC boosted its position in shares of Tilray by 92.1% during the 4th quarter. NewEdge Advisors LLC now owns 27,406 shares of the company’s stock valued at $36,000 after acquiring an additional 13,136 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in shares of Tilray by 59.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company’s stock valued at $49,000 after purchasing an additional 13,786 shares during the period. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

Tilray Company Profile

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.