Tilray (NASDAQ:TLRY) Trading 4.3% Higher – What’s Next?

Tilray Inc (NASDAQ:TLRY) shot up 4.3% during trading on Thursday . The stock traded as high as $1.09 and last traded at $1.09. 13,767,159 shares traded hands during trading, a decline of 67% from the average session volume of 41,862,789 shares. The stock had previously closed at $1.04.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TLRY shares. Canaccord Genuity Group raised their price objective on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Roth Mkm cut their price target 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Up 8.7 %

The firm’s 50-day moving average price is $1.28 and its two-hundred day moving average price is $1.56. 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 $1.06 billion, a PE ratio of -3.77 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share 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 analysts’ expectations of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. Tilray’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the purchase, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tilray

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can raised its stake in Tilray by 0.3% during 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 during the last quarter. State Street Corp increased its holdings in shares of Tilray by 4.7% in the third 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 period. BNP Paribas Financial Markets raised its stake in shares of Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after purchasing an additional 1,690,827 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Tilray by 6.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after purchasing an additional 107,530 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Tilray by 2.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock valued at $2,617,000 after buying an additional 37,300 shares during the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.