Tilray (NASDAQ:TLRY) Shares Up 0.1% – Here’s Why

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

Wall Street Analyst Weigh In

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

Tilray Stock Performance

The firm has a market cap of $605.73 million, a PE ratio of -2.16 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The stock has a 50-day moving average price of $0.93 and a 200 day moving average price of $1.31.

Tilray (NASDAQ:TLRY) last issued its 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). The firm had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Research analysts forecast that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Trading of Tilray

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc boosted its stake in Tilray by 4.2% during the 3rd quarter. CIBC Asset Management Inc now owns 908,098 shares of the company’s stock valued at $1,599,000 after purchasing an additional 36,799 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Tilray by 2.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock valued at $2,617,000 after purchasing an additional 37,300 shares in the last quarter. Estate Counselors LLC boosted its stake in Tilray by 40.0% during the 3rd quarter. Estate Counselors LLC now owns 70,000 shares of the company’s stock valued at $123,000 after purchasing an additional 20,000 shares in the last quarter. Bank of Montreal Can boosted its stake in Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after purchasing an additional 7,406 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Tilray by 4.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 715,672 shares of the company’s stock valued at $1,260,000 after purchasing an additional 33,194 shares in the last quarter. 9.35% of the stock is owned by 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.