Tilray Inc (NASDAQ:TLRY) Stake Cut by Platform Technology Partners

Platform Technology Partners decreased its holdings in shares of Tilray Inc (NASDAQ:TLRY) by 50.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the company’s stock after selling 50,000 shares during the period. Platform Technology Partners’ holdings in Tilray were worth $88,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Tidal Investments LLC grew its position in shares of Tilray by 36,687.0% during the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock valued at $26,373,000 after buying an additional 10,648,403 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Tilray by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock valued at $8,707,000 after purchasing an additional 117,891 shares during the last quarter. Bank of Montreal Can raised its position in shares of Tilray by 19.6% during the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after purchasing an additional 355,778 shares during the period. Swiss National Bank lifted its holdings in shares of Tilray by 3.6% in the 1st quarter. Swiss National Bank now owns 1,490,938 shares of the company’s stock worth $3,683,000 after purchasing an additional 51,700 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Tilray by 8.1% during the 2nd quarter. TD Asset Management Inc now owns 1,373,045 shares of the company’s stock valued at $2,278,000 after purchasing an additional 103,207 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Roth Mkm cut their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, October 11th.

Tilray Stock Performance

TLRY opened at $1.47 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $1.66 and its 200-day moving average is $1.78. Tilray Inc has a twelve month low of $1.36 and a twelve month high of $2.97.

Tilray (NASDAQ:TLRY) last announced its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm had revenue of $200.00 million for the quarter, compared to the consensus estimate of $218.70 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities research analysts expect that Tilray Inc will post -0.14 earnings per share for the current year.

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 Canada.