Tilray (TLRY) Shares Gap Up to $48.74

Tilray Inc (NASDAQ:TLRY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $47.43, but opened at $48.74. Tilray shares last traded at $48.90, with a volume of 4332844 shares.

Several research analysts have issued reports on TLRY shares. Piper Jaffray Companies reiterated a “buy” rating on shares of Tilray in a report on Tuesday, April 2nd. Roth Capital upgraded shares of Tilray from a “neutral” rating to a “buy” rating in a report on Wednesday, February 20th. Zacks Investment Research upgraded shares of Tilray from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Jefferies Financial Group upgraded shares of Tilray from an “underperform” rating to a “hold” rating and dropped their target price for the stock from $61.00 to $57.00 in a report on Friday, May 3rd. Finally, BMO Capital Markets upgraded shares of Tilray from an “underperform” rating to a “market perform” rating and set a $50.58 target price on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $89.71.

The company has a debt-to-equity ratio of 2.17, a quick ratio of 20.75 and a current ratio of 21.37. The firm has a market capitalization of $4.50 billion and a PE ratio of -59.63.

Tilray (NASDAQ:TLRY) last issued its earnings results on Tuesday, May 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.02). Tilray had a negative return on equity of 58.43% and a negative net margin of 157.05%. The business had revenue of $23.00 million for the quarter, compared to the consensus estimate of $20.50 million. The company’s revenue for the quarter was up 194.9% on a year-over-year basis. On average, equities analysts expect that Tilray Inc will post -0.86 EPS for the current year.

In other news, CFO Mark Castaneda sold 30,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $70.43, for a total value of $2,112,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brendan Kennedy sold 106,109 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $63.44, for a total transaction of $6,731,554.96. The disclosure for this sale can be found here. Insiders sold a total of 196,109 shares of company stock worth $12,522,598 over the last 90 days. Company insiders own 3.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Tilray by 20.0% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,200 shares of the company’s stock valued at $79,000 after buying an additional 200 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Tilray by 105.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 463 shares of the company’s stock valued at $30,000 after buying an additional 238 shares in the last quarter. Lee Financial Co bought a new stake in shares of Tilray in the 1st quarter valued at about $25,000. Toronto Dominion Bank bought a new stake in shares of Tilray in the 4th quarter valued at about $27,000. Finally, Quantamental Technologies LLC bought a new stake in shares of Tilray in the 1st quarter valued at about $26,000. Institutional investors and hedge funds own 7.07% of the company’s stock.

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About Tilray (NASDAQ:TLRY)

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 Nanaimo, Canada.

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