Tilray (NASDAQ:TLRY) Shares Gap Up – Here’s What Happened

Tilray Inc (NASDAQ:TLRY)’s share price 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.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Up 5.2 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The stock has a market capitalization of $635.73 million, a price-to-earnings ratio of -2.26 and a beta of 2.13. The firm’s fifty day moving average is $0.96 and its 200-day moving average is $1.33.

Tilray (NASDAQ:TLRY) last issued its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 30.95% and a negative return on equity of 4.40%. The business’s revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Lido Advisors LLC acquired a new position in Tilray in the fourth quarter worth $28,000. Verdence Capital Advisors LLC acquired a new position in shares of Tilray in the 4th quarter valued at about $29,000. Dudley Capital Management LLC bought a new stake in shares of Tilray during the 4th quarter valued at about $29,000. Ameritas Advisory Services LLC acquired a new stake in Tilray during the fourth quarter worth about $32,000. Finally, Newman Dignan & Sheerar Inc. lifted its holdings in Tilray by 61.9% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after acquiring an additional 10,000 shares during the last quarter. 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.