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

Tilray (NASDAQ:TLRY - Get Free Report) had its target price upped by Canaccord Genuity Group from $2.00 to $3.00 in a report released on Monday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price would suggest a potential upside of 154.24% from the stock's current price.

Separately, Roth Mkm cut their target price on Tilray from $2.00 to $1.75 and set a "neutral" rating on the stock in a research note on Friday, October 11th. 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 company presently has an average rating of "Hold" and a consensus target price of $2.70.

Tilray Price Performance

TLRY traded down $0.05 on Monday, reaching $1.18. The stock had a trading volume of 23,130,362 shares, compared to its average volume of 47,414,762. The firm has a 50-day moving average of $1.36 and a 200-day moving average of $1.62. Tilray has a fifty-two week low of $1.14 and a fifty-two week high of $2.97. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -4.37 and a beta of 2.08.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) 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 return on equity of 2.00% and a negative net margin of 26.79%. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tilray will post -0.14 EPS for the current year.

Insider Buying and Selling

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the company's stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TLRY. Ferguson Wellman Capital Management Inc. purchased a new stake in Tilray during the third quarter valued at approximately $26,000. International Assets Investment Management LLC boosted its position in shares of Tilray by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company's stock worth $42,000 after purchasing an additional 18,208 shares in the last quarter. Vista Capital Partners Inc. purchased a new position in Tilray during the 3rd quarter worth $42,000. Capital Management Associates Inc acquired a new position in Tilray during the 3rd quarter valued at about $45,000. Finally, Vestor Capital LLC purchased a new stake in shares of Tilray during the third quarter worth about $53,000. Hedge funds and other institutional investors own 9.35% of the company's stock.

About Tilray

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.