Tilray (NASDAQ:TLRY) Shares Gap Up to $43.14

Tilray Inc (NASDAQ:TLRY)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $42.02, but opened at $43.14. Tilray shares last traded at $41.04, with a volume of 89640 shares traded.

TLRY has been the topic of a number of recent research reports. Jefferies Financial Group set a $61.00 price objective on Tilray and gave the stock a “sell” rating in a research note on Tuesday, March 19th. Piper Jaffray Companies set a $90.00 price objective on Tilray and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Stifel Nicolaus initiated coverage on Tilray in a research note on Wednesday, June 5th. They set a “hold” rating and a $37.00 price objective on the stock. Alliance Global Partners initiated coverage on Tilray in a research note on Monday, May 13th. They set a “neutral” rating and a $50.00 price objective on the stock. Finally, Seaport Global Securities initiated coverage on Tilray in a research note on Thursday, February 21st. They set a “neutral” rating and a $81.10 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Tilray presently has an average rating of “Hold” and an average target price of $79.57.

The company has a quick ratio of 2.06, a current ratio of 2.35 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $3.94 billion and a P/E ratio of -51.00.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The company had revenue of $23.00 million during the quarter, compared to analyst estimates of $20.50 million. Tilray had a negative net margin of 159.09% and a negative return on equity of 43.71%. The company’s quarterly revenue was up 194.9% compared to the same quarter last year. On average, research analysts forecast that Tilray Inc will post -0.87 EPS for the current fiscal year.

In related news, CFO Mark Castaneda sold 10,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $51.72, for a total value of $517,200.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brendan Kennedy sold 106,109 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $63.44, for a total value of $6,731,554.96. The disclosure for this sale can be found here. Insiders sold 166,109 shares of company stock worth $10,409,698 in the last three months. 3.40% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. California Public Employees Retirement System increased its holdings in Tilray by 247.4% in the fourth quarter. California Public Employees Retirement System now owns 5,617 shares of the company’s stock valued at $396,000 after buying an additional 4,000 shares during the last quarter. Regal Investment Advisors LLC purchased a new position in shares of Tilray during the first quarter worth about $201,000. Millennium Management LLC grew its holdings in shares of Tilray by 255.6% during the fourth quarter. Millennium Management LLC now owns 8,402 shares of the company’s stock worth $593,000 after purchasing an additional 6,039 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Tilray by 132.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 8,395 shares of the company’s stock worth $592,000 after purchasing an additional 4,788 shares during the last quarter. Finally, Synovus Financial Corp grew its holdings in shares of Tilray by 2,500.0% during the first quarter. Synovus Financial Corp now owns 1,040 shares of the company’s stock worth $69,000 after purchasing an additional 1,000 shares during the last quarter. 2.04% of the stock is currently owned by hedge funds and other institutional investors.

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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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