Tilray (NASDAQ:TLRY) Stock Price Up 3.2% – What’s Next?

Tilray Inc (NASDAQ:TLRY) shares traded up 3.2% on Monday . The company traded as high as $0.68 and last traded at $0.67. 9,971,595 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 44,183,152 shares. The stock had previously closed at $0.65.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their target price on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research report 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Up 3.4 %

The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The company has a market cap of $630.10 million, a price-to-earnings ratio of -2.24 and a beta of 2.13. The stock’s 50-day moving average is $0.91 and its 200-day moving average is $1.30.

Tilray (NASDAQ:TLRY) last issued its 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 firm had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its position in shares of Tilray by 0.3% in the third 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 last quarter. Newman Dignan & Sheerar Inc. lifted its stake in Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after purchasing an additional 10,000 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Tilray by 55.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company’s stock worth $42,000 after purchasing an additional 11,325 shares during the period. NewEdge Advisors LLC lifted its position in Tilray by 92.1% in the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company’s stock valued at $36,000 after purchasing an additional 13,136 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in shares of Tilray by 59.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company’s stock worth $49,000 after purchasing an additional 13,786 shares during the last quarter. 9.35% of the stock is currently 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.