Tilray (TLRY) Stock Price Up 5.2%

Tilray Inc (NASDAQ:TLRY) rose 5.2% during mid-day trading on Wednesday . The stock traded as high as $101.78 and last traded at $94.79. Approximately 2,369,724 shares were traded during trading, a decline of 69% from the average daily volume of 7,725,346 shares. The stock had previously closed at $90.10.

TLRY has been the topic of several recent analyst reports. Roth Capital initiated coverage on shares of Tilray in a research note on Tuesday, August 14th. They set a “buy” rating and a $35.00 target price on the stock. Cowen increased their target price on shares of Tilray from $62.00 to $172.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 9th. Benchmark initiated coverage on shares of Tilray in a research note on Tuesday, October 16th. They set a “buy” rating and a $200.00 target price on the stock. Zacks Investment Research lowered shares of Tilray from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Finally, Northland Securities lowered shares of Tilray from an “outperform” rating to a “market perform” rating in a research note on Thursday, September 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $135.67.

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.51 and a current ratio of 0.62.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Tuesday, August 28th. The company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.08). The company had revenue of $9.70 million for the quarter, compared to analysts’ expectations of $9.01 million. The business’s revenue for the quarter was up 94.0% compared to the same quarter last year. Equities research analysts expect that Tilray Inc will post -0.48 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of TLRY. Bouchey Financial Group Ltd purchased a new position in Tilray in the 3rd quarter valued at about $316,000. Bank of Montreal Can purchased a new position in Tilray in the 3rd quarter valued at about $2,467,000. IFP Advisors Inc purchased a new position in Tilray in the 3rd quarter valued at about $154,000. Creative Planning purchased a new position in Tilray in the 3rd quarter valued at about $1,329,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Tilray in the 3rd quarter valued at about $242,000. 0.02% of the stock is currently owned by hedge funds and other institutional investors.

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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