Tilray (NASDAQ:TLRY) Stock Price Up 0.1% – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s stock price shot up 0.1% during mid-day trading on Thursday . The company traded as high as $0.66 and last traded at $0.64. 7,316,436 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 31,308,224 shares. The stock had previously closed at $0.64.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group boosted their price objective on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Trading Up 0.6 %

The company has a 50 day moving average price of $0.93 and a 200 day moving average price of $1.31. The firm has a market cap of $605.73 million, a price-to-earnings ratio of -2.16 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54.

Tilray (NASDAQ:TLRY) last posted its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. Tilray’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, research analysts expect that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Lido Advisors LLC acquired a new stake in Tilray during the 4th quarter worth approximately $28,000. Verdence Capital Advisors LLC acquired a new stake in shares of Tilray in the 4th quarter valued at approximately $29,000. Dudley Capital Management LLC acquired a new stake in shares of Tilray in the 4th quarter valued at approximately $29,000. Ameritas Advisory Services LLC purchased a new position in Tilray during the fourth quarter worth $32,000. Finally, Newman Dignan & Sheerar Inc. increased its position 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 buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors 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.