Tilray (NASDAQ:TLRY) Shares Gap Up to $22.43

Tilray Inc (NASDAQ:TLRY)’s share price gapped up prior to trading on Friday . The stock had previously closed at $22.66, but opened at $22.43. Tilray shares last traded at $21.58, with a volume of 65,058 shares changing hands.

A number of equities research analysts have commented on the company. MKM Partners reduced their target price on Tilray from $34.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Zacks Investment Research raised Tilray from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Jefferies Financial Group set a $25.00 target price on Tilray and gave the company a “hold” rating in a report on Friday, October 25th. Cantor Fitzgerald assumed coverage on Tilray in a report on Monday, November 4th. They issued a “neutral” rating and a $20.00 target price for the company. Finally, Northland Securities reissued a “hold” rating on shares of Tilray in a report on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $43.13.

The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -26.10 and a beta of 4.32. The company has a current ratio of 2.54, a quick ratio of 1.69 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average price of $22.29 and a 200-day moving average price of $35.03.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.05). The firm had revenue of $51.10 million for the quarter, compared to analyst estimates of $49.57 million. Tilray had a negative return on equity of 40.30% and a negative net margin of 97.39%. The company’s quarterly revenue was up 411.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.08) EPS. As a group, equities analysts expect that Tilray Inc will post -1.3 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in TLRY. ETF Managers Group LLC acquired a new position in shares of Tilray during the 2nd quarter worth $92,004,000. Think Investments LP acquired a new position in shares of Tilray during the 2nd quarter worth $7,031,000. SG Americas Securities LLC acquired a new position in shares of Tilray during the 3rd quarter worth $3,556,000. Morgan Stanley raised its stake in shares of Tilray by 44.2% during the 2nd quarter. Morgan Stanley now owns 330,527 shares of the company’s stock worth $15,390,000 after buying an additional 101,375 shares during the last quarter. Finally, Vanguard Group Inc. acquired a new position in shares of Tilray during the 2nd quarter worth $3,484,000. 8.16% of the stock is owned by institutional investors and hedge funds.

About Tilray (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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