Zacks Investment Management Makes New $41,000 Investment in Tilray Inc (NASDAQ:TLRY)

Zacks Investment Management acquired a new position in shares of Tilray Inc (NASDAQ:TLRY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 31,123 shares of the company’s stock, valued at approximately $41,000.

Several other hedge funds also recently modified their holdings of TLRY. Bank of Montreal Can increased its stake in Tilray by 14.4% in the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company’s stock valued at $3,310,000 after purchasing an additional 312,476 shares in the last quarter. Geode Capital Management LLC increased its position in Tilray by 20.1% in the 4th quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company’s stock valued at $3,200,000 after buying an additional 403,371 shares in the last quarter. State Street Corp raised its stake in Tilray by 4.7% during the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock worth $3,452,000 after buying an additional 88,079 shares during the period. Swiss National Bank grew its stake in Tilray by 10.2% in the fourth quarter. Swiss National Bank now owns 1,776,638 shares of the company’s stock valued at $2,363,000 after acquiring an additional 164,600 shares during the period. Finally, Quinn Opportunity Partners LLC raised its position in shares of Tilray by 108.0% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company’s stock worth $2,152,000 after purchasing an additional 840,000 shares during the period. Institutional investors own 9.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Piper Sandler decreased their price target on shares of Tilray from $2.00 to $1.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Roth Capital restated a “neutral” rating on shares of Tilray in a report on Monday, April 14th. Finally, Canaccord Genuity Group lifted their price target on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Monday, January 13th.

Tilray Stock Performance

NASDAQ TLRY opened at $0.45 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The company has a fifty day moving average price of $0.67 and a 200-day moving average price of $1.12. Tilray Inc has a 1 year low of $0.43 and a 1 year high of $2.52. The firm has a market cap of $421.94 million, a price-to-earnings ratio of -1.50 and a beta of 1.88.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Tuesday, April 8th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm had revenue of $185.78 million during the quarter, compared to analysts’ expectations of $213.38 million. As a group, equities research analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

Tilray 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.