Tilray (NASDAQ:TLRY) Stock Price Up 5.2% – Here’s What Happened

Shares of Tilray Inc (NASDAQ:TLRY) rose 5.2% during trading on Tuesday . The company traded as high as $0.69 and last traded at $0.68. Approximately 20,055,536 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 31,399,047 shares. The stock had previously closed at $0.64.

Analyst Ratings Changes

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

Tilray Price Performance

The firm has a market cap of $624.48 million, a price-to-earnings ratio of -2.21 and a beta of 2.13. The business’s 50-day simple moving average is $0.96 and its two-hundred day simple moving average is $1.33. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last released 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 net margin of 30.95% and a negative return on equity of 4.40%. Tilray’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts expect that Tilray Inc will post -0.2 EPS for the current fiscal year.

Institutional Trading of Tilray

Several large investors have recently modified their holdings of TLRY. Lido Advisors LLC acquired a new stake in shares of Tilray during the 4th quarter worth approximately $28,000. Verdence Capital Advisors LLC acquired a new stake in shares of Tilray during the 4th quarter worth approximately $29,000. Dudley Capital Management LLC acquired a new stake in shares of Tilray during the 4th quarter worth approximately $29,000. Ameritas Advisory Services LLC acquired a new stake in shares of Tilray during the 4th quarter worth approximately $32,000. Finally, Newman Dignan & Sheerar Inc. grew its position in shares of Tilray by 61.9% during the 4th 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 period. Institutional investors and hedge funds 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.