Tilray Inc (NASDAQ:TLRY) Receives $2.88 Consensus Target Price from Analysts

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) have received an average rating of "Hold" from the six analysts that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $3.04.

A number of research firms have issued reports on TLRY. CIBC reduced their price target on shares of Tilray from $2.25 to $2.00 and set a "neutral" rating for the company in a research report on Wednesday. Canaccord Genuity Group reduced their price target on shares of Tilray from $4.25 to $4.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, Alliance Global Partners raised their price target on shares of Tilray from $2.25 to $2.75 and gave the stock a "neutral" rating in a research report on Friday, April 5th.

Insider Activity

In other news, CEO Irwin D. Simon bought 53,700 shares of the business's stock in a transaction dated Friday, January 12th. The stock was purchased at an average cost of $1.88 per share, with a total value of $100,956.00. Following the acquisition, the chief executive officer now directly owns 2,033,058 shares in the company, valued at $3,822,149.04. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Carl A. Merton bought 20,000 shares of the business's stock in a transaction dated Friday, January 12th. The stock was purchased at an average cost of $1.87 per share, with a total value of $37,400.00. Following the acquisition, the chief financial officer now directly owns 20,000 shares in the company, valued at $37,400. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Irwin D. Simon bought 53,700 shares of the business's stock in a transaction dated Friday, January 12th. The shares were purchased at an average cost of $1.88 per share, with a total value of $100,956.00. Following the completion of the acquisition, the chief executive officer now owns 2,033,058 shares in the company, valued at $3,822,149.04. The disclosure for this purchase can be found here. Insiders bought a total of 96,300 shares of company stock valued at $183,210 in the last three months. 0.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tilray

Several institutional investors have recently made changes to their positions in the company. Hudson Bay Capital Management LP grew its stake in Tilray by 29.4% in the 3rd quarter. Hudson Bay Capital Management LP now owns 16,181,157 shares of the company's stock valued at $38,673,000 after acquiring an additional 3,681,157 shares during the period. Vanguard Group Inc. grew its stake in Tilray by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 3,407,269 shares of the company's stock valued at $7,837,000 after acquiring an additional 231,381 shares during the period. BlackRock Inc. grew its stake in Tilray by 15.8% in the 2nd quarter. BlackRock Inc. now owns 2,692,170 shares of the company's stock valued at $4,200,000 after acquiring an additional 368,035 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Tilray by 2.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,465,698 shares of the company's stock valued at $5,671,000 after acquiring an additional 70,482 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Tilray in the 4th quarter valued at $6,586,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

Tilray Stock Performance

Shares of Tilray stock traded down $0.04 during midday trading on Wednesday, hitting $2.02. The company had a trading volume of 34,784,016 shares, compared to its average volume of 29,030,254. Tilray has a 12-month low of $1.50 and a 12-month high of $3.40. The company has a quick ratio of 0.99, a current ratio of 1.63 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -0.91 and a beta of 2.36. The company has a fifty day simple moving average of $1.97 and a 200 day simple moving average of $1.98.

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 Nanaimo, Canada.