Tilray (NASDAQ:TLRY) Shares Up 5%

Tilray Inc (NASDAQ:TLRY)’s share price shot up 5% on Monday . The stock traded as high as $22.65 and last traded at $22.43, 918,027 shares were traded during mid-day trading. A decline of 53% from the average session volume of 1,957,197 shares. The stock had previously closed at $21.37.

Several brokerages have weighed in on TLRY. Zacks Investment Research cut shares of Tilray from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. Northland Securities reiterated a “hold” rating on shares of Tilray in a research note on Wednesday, August 14th. Consumer Edge began coverage on shares of Tilray in a research note on Friday, June 28th. They issued an “overweight” rating and a $54.00 price objective for the company. ValuEngine upgraded shares of Tilray from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group set a $25.00 price objective on shares of Tilray and gave the stock a “hold” rating in a research note on Friday, October 11th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. Tilray presently has an average rating of “Hold” and a consensus price target of $49.06.

The firm’s 50-day moving average price is $26.33 and its 200 day moving average price is $39.33. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -27.60 and a beta of 4.44. The company has a current ratio of 2.04, a quick ratio of 1.61 and a debt-to-equity ratio of 1.21.

Tilray (NASDAQ:TLRY) last issued its earnings results on Tuesday, August 13th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.09). The firm had revenue of $45.90 million during the quarter, compared to analyst estimates of $40.25 million. Tilray had a negative net margin of 121.73% and a negative return on equity of 37.64%. Tilray’s quarterly revenue was up 373.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. As a group, equities research analysts anticipate that Tilray Inc will post -1.13 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of TLRY. Exane Derivatives raised its position in shares of Tilray by 1,177.3% in the 2nd quarter. Exane Derivatives now owns 16,720 shares of the company’s stock valued at $780,000 after buying an additional 15,411 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Tilray by 47.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 26,599 shares of the company’s stock valued at $1,238,000 after buying an additional 8,570 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Tilray in the 2nd quarter valued at approximately $239,000. Traynor Capital Management Inc. acquired a new position in shares of Tilray in the 2nd quarter valued at approximately $347,000. Finally, Stelac Advisory Services LLC acquired a new position in shares of Tilray in the 2nd quarter valued at approximately $3,000,000. Institutional investors own 7.62% of the company’s stock.

Tilray Company Profile (NASDAQ:TLRY)

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 Nanaimo, Canada.

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