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

Tilray Inc (NASDAQ:TLRY)’s share price was up 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 mid-day 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 Analysts Forecast Growth

Separately, Canaccord Genuity Group raised their target price on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.70.

Tilray Stock Up 0.2 %

The business’s 50 day moving average price is $0.91 and its 200-day moving average price is $1.30. 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 capitalization of $609.48 million, a PE ratio of -2.17 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last announced its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $216.34 million. Tilray’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities research analysts forecast that Tilray Inc will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Tilray

Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can grew its position in Tilray by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after acquiring an additional 7,406 shares in the last quarter. Newman Dignan & Sheerar Inc. grew its holdings in shares of Tilray by 61.9% in the fourth 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 in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Tilray by 55.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company’s stock valued at $42,000 after purchasing an additional 11,325 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Tilray by 92.1% during the 4th quarter. NewEdge Advisors LLC now owns 27,406 shares of the company’s stock worth $36,000 after buying an additional 13,136 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in Tilray by 59.4% in the 4th 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. Institutional investors and hedge funds 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.