Tilray (NASDAQ:TLRY) Shares Gap Up to $1.83

Tilray Inc (NASDAQ:TLRY)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $1.83, but opened at $2.03. Tilray shares last traded at $2.09, with a volume of 15,166,822 shares.

Analyst Upgrades and Downgrades

TLRY has been the topic of a number of recent research reports. Alliance Global Partners lifted their price objective on Tilray from $2.25 to $2.75 and gave the company a “neutral” rating in a report on Friday, April 5th. CIBC cut their price target on Tilray from $2.25 to $2.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Finally, Canaccord Genuity Group dropped their price objective on Tilray from $4.25 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th.

Tilray Trading Down 2.0 %

The company has a quick ratio of 1.18, a current ratio of 1.92 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.54 billion, a P/E ratio of -4.68 and a beta of 2.19. The firm’s 50 day moving average is $1.78 and its two-hundred day moving average is $1.90.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Tilray had a negative net margin of 30.26% and a negative return on equity of 2.65%. The company had revenue of $229.90 million for the quarter, compared to analyst estimates of $226.20 million. During the same quarter in the prior year, the company posted ($0.15) EPS. Tilray’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, equities research analysts anticipate that Tilray Inc will post -0.13 EPS for the current year.

Institutional Investors Weigh In On Tilray

Institutional investors and hedge funds have recently made changes to their positions in the business. Simplicity Wealth LLC acquired a new stake in shares of Tilray in the 1st quarter worth about $28,000. RPO LLC bought a new stake in Tilray in the 4th quarter worth about $28,000. Gainplan LLC bought a new stake in Tilray in the 4th quarter worth about $28,000. Wellington Wealth Strategies LLC. bought a new stake in Tilray in the 4th quarter worth about $29,000. Finally, International Assets Investment Management LLC grew its position in Tilray by 179.0% in the 4th quarter. International Assets Investment Management LLC now owns 14,734 shares of the company’s stock worth $34,000 after purchasing an additional 9,453 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

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 Nanaimo, Canada.