Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price shot up 1.4% during trading on Tuesday . The company traded as high as $0.67 and last traded at $0.67. 4,487,662 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 30,362,248 shares. The stock had previously closed at $0.66.
Wall Street Analysts Forecast Growth
Separately, Canaccord Genuity Group boosted their price target on Tilray from $2.00 to $3.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $2.70.
Read Our Latest Analysis on Tilray
Tilray Trading Down 0.5 %
The company has a 50 day simple moving average of $0.83 and a two-hundred day simple moving average of $1.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The firm has a market cap of $610.41 million, a PE ratio of -2.17 and a beta of 2.13.
Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $216.34 million. The company's revenue was up 8.7% on a year-over-year basis. Analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the business. Bank of Montreal Can grew its position in Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company's stock worth $3,787,000 after purchasing an additional 7,406 shares during the period. Newman Dignan & Sheerar Inc. lifted its stake in shares of Tilray by 61.9% in the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock valued at $35,000 after purchasing an additional 10,000 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Tilray by 55.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock worth $42,000 after buying an additional 11,325 shares in the last quarter. NewEdge Advisors LLC grew its position in Tilray by 92.1% during the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock valued at $36,000 after buying an additional 13,136 shares during the period. Finally, TD Waterhouse Canada Inc. grew its position in Tilray by 59.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company's stock valued at $49,000 after buying an additional 13,786 shares during the period. Hedge funds and other institutional investors own 9.35% of the company's stock.
About Tilray
(
Get Free Report)
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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