Tilray (NASDAQ:TLRY) Trading 1.7% Higher – What’s Next?

Shares of Tilray Inc (NASDAQ:TLRY) traded up 1.7% during trading on Monday . The stock traded as high as $1.23 and last traded at $1.20. 33,792,585 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 36,994,340 shares. The stock had previously closed at $1.18.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price target on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Roth Mkm reduced their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th. Three 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.70.

Tilray Stock Down 2.5 %

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 stock’s 50-day moving average price is $1.32 and its two-hundred day moving average price is $1.60.

Tilray (NASDAQ:TLRY) last issued its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The firm had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Madrona Financial Services LLC grew its holdings in Tilray by 40.0% during the 4th quarter. Madrona Financial Services LLC now owns 70,000 shares of the company’s stock valued at $93,000 after buying an additional 20,000 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Tilray during the fourth quarter valued at approximately $32,000. Pallas Capital Advisors LLC increased its holdings in Tilray by 59.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 50,438 shares of the company’s stock worth $67,000 after acquiring an additional 18,792 shares during the period. JPMorgan Chase & Co. lifted its stake in Tilray by 32.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company’s stock worth $760,000 after purchasing an additional 105,803 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in Tilray by 176.7% in the 3rd quarter. Synovus Financial Corp now owns 36,092 shares of the company’s stock valued at $64,000 after purchasing an additional 23,046 shares during the period. 9.35% of the stock is currently 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.