Tilray (NASDAQ:TLRY) Trading 3.5% Higher – Here’s What Happened

Shares of Tilray Inc (NASDAQ:TLRY) traded up 3.5% on Friday . The company traded as high as $0.67 and last traded at $0.67. 8,804,674 shares changed hands during trading, a decline of 72% from the average session volume of 31,240,242 shares. The stock had previously closed at $0.65.

Analyst Upgrades and Downgrades

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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Up 0.2 %

The business has a 50 day simple moving average of $0.91 and a 200 day simple moving average of $1.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The stock has a market cap of $609.48 million, a PE ratio of -2.17 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last issued its earnings results on Friday, January 10th. The company reported ($0.10) 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. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Lido Advisors LLC acquired a new stake in shares of Tilray in the fourth quarter worth about $28,000. Verdence Capital Advisors LLC acquired a new stake in shares of Tilray in the fourth quarter worth about $29,000. Dudley Capital Management LLC acquired a new stake in shares of Tilray in the fourth quarter worth about $29,000. Ameritas Advisory Services LLC acquired a new stake in shares of Tilray in the fourth quarter worth about $32,000. Finally, Newman Dignan & Sheerar Inc. lifted its position 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 worth $35,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.