Tilray (NASDAQ:TLRY) Shares Gap Up – Still a Buy?

Tilray Inc (NASDAQ:TLRY) shares gapped up before the market opened on Tuesday . The stock had previously closed at $0.64, but opened at $0.66. Tilray shares last traded at $0.69, with a volume of 8,718,866 shares traded.

Analysts Set New Price Targets

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

Tilray Stock Up 5.2 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The firm has a 50 day simple moving average of $0.96 and a two-hundred day simple moving average of $1.33. The stock has a market cap of $635.73 million, a P/E ratio of -2.26 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The company had revenue of $210.90 million during 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 quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TLRY. Wealth Enhancement Advisory Services LLC boosted its stake in Tilray by 317.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 166,326 shares of the company’s stock valued at $221,000 after purchasing an additional 126,507 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Tilray by 53.0% in the fourth quarter. Toronto Dominion Bank now owns 197,207 shares of the company’s stock valued at $260,000 after buying an additional 68,284 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tilray by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company’s stock valued at $2,613,000 after buying an additional 286,481 shares in the last quarter. Two Sigma Advisers LP grew its holdings in Tilray by 81.7% during the fourth quarter. Two Sigma Advisers LP now owns 164,800 shares of the company’s stock worth $219,000 after acquiring an additional 74,100 shares during the period. Finally, Tidal Investments LLC grew its holdings in Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock worth $14,092,000 after acquiring an additional 889,086 shares during the period. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Company Profile

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.