Avantax Advisory Services Inc. Buys 22,838 Shares of Tilray Inc (NASDAQ:TLRY)

Avantax Advisory Services Inc. grew its position in shares of Tilray Inc (NASDAQ:TLRY) by 23.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,854 shares of the company’s stock after purchasing an additional 22,838 shares during the period. Avantax Advisory Services Inc.’s holdings in Tilray were worth $162,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Verdence Capital Advisors LLC bought a new stake in Tilray in the 4th quarter worth approximately $29,000. Ameritas Advisory Services LLC bought a new stake in shares of Tilray in the 4th quarter worth approximately $32,000. Newman Dignan & Sheerar Inc. boosted its stake in shares of Tilray by 61.9% in the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after purchasing an additional 10,000 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Tilray by 125.7% during the fourth quarter. Jones Financial Companies Lllp now owns 31,725 shares of the company’s stock valued at $42,000 after buying an additional 17,670 shares during the last quarter. Finally, Synovus Financial Corp increased its stake in Tilray by 176.7% in the 3rd quarter. Synovus Financial Corp now owns 36,092 shares of the company’s stock worth $64,000 after purchasing an additional 23,046 shares during the period. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

Tilray Stock Performance

Tilray stock opened at $0.71 on Friday. Tilray Inc has a fifty-two week low of $0.58 and a fifty-two week high of $2.97. The stock’s 50 day simple moving average is $0.87 and its two-hundred day simple moving average is $1.27. 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 stock has a market cap of $669.49 million, a price-to-earnings ratio of -2.38 and a beta of 2.13.

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

Analyst Ratings Changes

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

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.