Tilray (NASDAQ:TLRY) Trading 1.2% Higher – What’s Next?

Tilray Inc (NASDAQ:TLRY) shares rose 1.2% on Thursday . The stock traded as high as $0.82 and last traded at $0.81. Approximately 7,584,108 shares were traded during trading, a decline of 84% from the average daily volume of 46,135,766 shares. The stock had previously closed at $0.80.

Wall Street Analysts Forecast Growth

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

Tilray Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The company has a market capitalization of $712.62 million, a price-to-earnings ratio of -2.53 and a beta of 2.07. The stock has a 50 day moving average price of $1.15 and a two-hundred day moving average price of $1.44.

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

Institutional Trading of Tilray

Several hedge funds and other institutional investors have recently modified their holdings of TLRY. Creative Planning increased its holdings in Tilray by 36.6% during the third quarter. Creative Planning now owns 141,921 shares of the company’s stock worth $250,000 after buying an additional 38,054 shares during the last quarter. International Assets Investment Management LLC increased its stake in Tilray by 335.3% in the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after acquiring an additional 18,208 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Tilray by 22.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock worth $70,000 after buying an additional 7,339 shares in the last quarter. Pallas Capital Advisors LLC grew its position in Tilray by 58.1% in the third quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock valued at $52,000 after acquiring an additional 11,632 shares during the last quarter. Finally, Vestor Capital LLC acquired a new position in Tilray during the third quarter worth about $53,000. 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.