Tilray (NASDAQ:TLRY) Price Target Raised to $3.00 at Canaccord Genuity Group

Tilray (NASDAQ:TLRY) had its target price increased by equities researchers at Canaccord Genuity Group from $2.00 to $3.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 152.82% from the stock’s current price.

Separately, Roth Mkm lowered their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Price Performance

TLRY traded down $0.04 on Monday, hitting $1.19. 16,004,427 shares of the stock were exchanged, compared to its average volume of 46,377,977. Tilray has a 12 month low of $1.14 and a 12 month high of $2.97. The business has a 50-day moving average of $1.36 and a two-hundred day moving average of $1.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -4.39 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The firm had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side analysts forecast that Tilray will post -0.14 EPS for the current fiscal year.

Insider Activity

In related news, CFO Carl A. Merton bought 26,000 shares of Tilray stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by insiders.

Institutional Trading of Tilray

Several institutional investors have recently added to or reduced their stakes in TLRY. Ferguson Wellman Capital Management Inc. bought a new position in shares of Tilray during the 3rd quarter worth approximately $26,000. Vista Capital Partners Inc. bought a new position in shares of Tilray during the 3rd quarter worth approximately $42,000. International Assets Investment Management LLC boosted its holdings in shares of Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after buying an additional 18,208 shares in the last quarter. Capital Management Associates Inc bought a new position in shares of Tilray during the 3rd quarter worth approximately $45,000. Finally, Pallas Capital Advisors LLC boosted its holdings in shares of Tilray by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock worth $52,000 after buying an additional 11,632 shares in the last quarter. 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.