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

Tilray (NASDAQ:TLRY) had its price objective increased by Canaccord Genuity Group from $2.00 to $3.00 in a research note published on Monday,BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

Separately, Roth Mkm lowered their price objective on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tilray presently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Price 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 company has a market cap of $1.07 billion, a PE ratio of -4.37 and a beta of 2.08. The firm has a fifty day moving average price of $1.35 and a two-hundred day moving average price of $1.61. Tilray has a fifty-two week low of $1.14 and a fifty-two week high of $2.97.

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). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts expect that Tilray will post -0.14 EPS for the current year.

Insider Buying and Selling

In related news, CFO Carl A. Merton acquired 26,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the purchase, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tilray

Several large investors have recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. acquired a new position in Tilray in the third quarter valued at about $26,000. International Assets Investment Management LLC raised its stake in shares of 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. Vista Capital Partners Inc. acquired a new position in shares of Tilray in the 3rd quarter worth approximately $42,000. Capital Management Associates Inc bought a new stake in Tilray during the 3rd quarter worth approximately $45,000. Finally, Vestor Capital LLC acquired a new stake in Tilray during the 3rd quarter valued at $53,000. Institutional investors 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.