Dudley Capital Management LLC Makes New Investment in Tilray Inc (NASDAQ:TLRY)

Dudley Capital Management LLC acquired a new position in shares of Tilray Inc (NASDAQ:TLRY) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 21,725 shares of the company’s stock, valued at approximately $29,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its holdings in shares of Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after buying an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Tilray during the third quarter worth about $1,348,000. Atria Wealth Solutions Inc. raised its position in Tilray by 174.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company’s stock worth $112,000 after acquiring an additional 53,751 shares in the last quarter. Arizona State Retirement System lifted its holdings in Tilray by 9.9% in the 4th quarter. Arizona State Retirement System now owns 261,233 shares of the company’s stock valued at $347,000 after acquiring an additional 23,439 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Tilray by 600.4% during the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after purchasing an additional 174,997 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Tilray Stock Performance

Shares of NASDAQ TLRY opened at $0.68 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. Tilray Inc has a one year low of $0.58 and a one year high of $2.97. The business’s 50-day moving average price is $0.90 and its two-hundred day moving average price is $1.29. The company has a market capitalization of $639.76 million, a P/E ratio of -2.27 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last released its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. The business’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

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.