Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) shot up 2.3% on Thursday . The stock traded as high as $1.13 and last traded at $1.10. 23,890,441 shares were traded during mid-day trading, a decline of 48% from the average session volume of 45,624,891 shares. The stock had previously closed at $1.07.
Analysts Set New Price Targets
Separately, Canaccord Genuity Group lifted their price target on Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Tilray has an average rating of "Hold" and an average target price of $2.70.
View Our Latest Research Report on Tilray
Tilray Trading Down 5.7 %
The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The company's 50-day moving average is $1.24 and its 200-day moving average is $1.53. The stock has a market capitalization of $937.66 million, a price-to-earnings ratio of -3.33 and a beta of 2.07.
Tilray (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm had revenue of $210.90 million for the quarter, compared to analysts' expectations of $216.34 million. The firm's revenue was up 8.7% on a year-over-year basis. Research analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction on Friday, November 15th. The shares were bought at an average price of $1.36 per share, with a total value of $35,360.00. Following the acquisition, the chief financial officer now owns 26,000 shares of the company's stock, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is currently owned by insiders.
Institutional Trading of Tilray
A number of large investors have recently made changes to their positions in the stock. Bank of Montreal Can grew 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 period. State Street Corp lifted its position in Tilray by 4.7% in the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company's stock valued at $3,452,000 after purchasing an additional 88,079 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock worth $3,202,000 after acquiring an additional 1,690,827 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tilray by 6.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company's stock valued at $2,953,000 after buying an additional 107,530 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Tilray by 2.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company's stock worth $2,617,000 after purchasing an additional 37,300 shares during the period. Institutional investors and hedge funds 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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