Shares of Tilray Inc (NASDAQ:TLRY – Get Free Report) rose 1.3% during trading on Tuesday . The stock traded as high as $1.60 and last traded at $1.60. Approximately 4,121,774 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 24,889,479 shares. The stock had previously closed at $1.58.
Wall Street Analyst Weigh In
Separately, Roth Mkm reduced their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research report on Friday, October 11th.
Read Our Latest Research Report on Tilray
Tilray Stock Up 7.9 %
Tilray (NASDAQ:TLRY – Get Free Report) last announced its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.10) EPS. Sell-side analysts forecast that Tilray Inc will post -0.14 earnings per share for the current year.
Hedge Funds Weigh In On Tilray
Several hedge funds have recently made changes to their positions in TLRY. Arizona State Retirement System boosted its holdings in Tilray by 4.4% during the second quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock worth $360,000 after purchasing an additional 9,171 shares during the last quarter. CapWealth Advisors LLC boosted its position in Tilray by 12.5% during the first quarter. CapWealth Advisors LLC now owns 90,000 shares of the company’s stock valued at $222,000 after purchasing an additional 10,000 shares during the last quarter. Private Advisor Group LLC grew its stake in Tilray by 7.3% in the first quarter. Private Advisor Group LLC now owns 175,845 shares of the company’s stock valued at $434,000 after purchasing an additional 12,021 shares in the last quarter. HBK Sorce Advisory LLC acquired a new position in shares of Tilray during the 1st quarter worth approximately $37,000. Finally, Prospect Financial Services LLC bought a new stake in shares of Tilray during the 2nd quarter worth approximately $26,000. 9.35% of the stock is owned by institutional investors.
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.
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