Tilray (NASDAQ:TLRY) Shares Up 14.7%

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Shares of Tilray Inc (NASDAQ:TLRY) shot up 14.7% during trading on Monday . The stock traded as high as $38.98 and last traded at $44.50. 236,348 shares changed hands during trading, a decline of 84% from the average session volume of 1,501,641 shares. The stock had previously closed at $38.80.

Several brokerages have commented on TLRY. Vertical Research began coverage on shares of Tilray in a research report on Friday, April 12th. They set a “sell” rating for the company. Piper Jaffray Companies reiterated a “buy” rating on shares of Tilray in a research report on Tuesday, April 2nd. Compass Point began coverage on shares of Tilray in a research report on Monday. They set a “neutral” rating and a $41.00 target price for the company. Roth Capital reiterated a “hold” rating on shares of Tilray in a research report on Thursday, March 21st. Finally, Zacks Investment Research upgraded shares of Tilray from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. Two 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 company. The company has an average rating of “Hold” and an average target price of $79.57.

The company has a current ratio of 2.35, a quick ratio of 2.06 and a debt-to-equity ratio of 1.13. The stock has a market cap of $3.87 billion and a P/E ratio of -51.00.

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

In related news, insider Brendan Kennedy sold 106,109 shares of the company’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Castaneda sold 10,000 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $51.72, for a total transaction of $517,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 196,109 shares of company stock valued at $12,522,598. 3.40% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zevenbergen Capital Investments LLC increased its position in shares of Tilray by 37.1% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 730,280 shares of the company’s stock valued at $47,848,000 after buying an additional 197,540 shares in the last quarter. Morgan Stanley boosted its stake in Tilray by 39.6% in the 1st quarter. Morgan Stanley now owns 229,152 shares of the company’s stock worth $15,014,000 after purchasing an additional 65,032 shares during the period. Essex Investment Management Co. LLC acquired a new position in Tilray in the 1st quarter worth $5,954,000. Hellman Jordan Management Co. Inc. MA acquired a new position in Tilray in the 1st quarter worth $3,276,000. Finally, Stevens Capital Management LP acquired a new position in Tilray in the 1st quarter worth $2,106,000. Institutional investors and hedge funds own 2.04% of the company’s stock.

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Tilray Company Profile (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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