Canaccord Genuity Group Issues Positive Forecast for Tilray (NASDAQ:TLRY) Stock Price

Tilray (NASDAQ:TLRY) had its price target increased by Canaccord Genuity Group from $2.00 to $3.00 in a research report sent to investors on Monday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Separately, Roth Mkm reduced their target price on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Performance

Shares of Tilray stock opened at $1.18 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The firm has a 50 day simple moving average of $1.35 and a 200 day simple moving average of $1.61. Tilray has a fifty-two week low of $1.14 and a fifty-two week high of $2.97. The firm has a market cap of $1.07 billion, a P/E ratio of -4.37 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last released its earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray’s quarterly revenue was up 8.7% on a year-over-year basis. Sell-side analysts predict that Tilray will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Tilray

In related news, CFO Carl A. Merton bought 26,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ferguson Wellman Capital Management Inc. bought a new stake in Tilray in the third quarter valued at approximately $26,000. Vista Capital Partners Inc. bought a new stake in shares of Tilray in the 3rd quarter valued at $42,000. International Assets Investment Management LLC raised its stake in Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after buying an additional 18,208 shares during the period. Capital Management Associates Inc bought a new position in Tilray during the third quarter worth about $45,000. Finally, Pallas Capital Advisors LLC grew its stake 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 period. Institutional investors 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.