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

Zacks Investment Management acquired a new position in shares of Tilray Inc (NASDAQ:TLRY) during the fourth quarter, according to the company in its most recent 13F filing 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 and other institutional investors have also recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. raised its stake in Tilray by 174.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 84,516 shares of the company’s stock valued at $112,000 after purchasing an additional 53,751 shares in the last quarter. Quinn Opportunity Partners LLC boosted its position in shares of Tilray by 108.0% during the 4th quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company’s stock worth $2,152,000 after acquiring an additional 840,000 shares in the last quarter. Arizona State Retirement System increased its stake in Tilray by 9.9% in the fourth quarter. Arizona State Retirement System now owns 261,233 shares of the company’s stock valued at $347,000 after acquiring an additional 23,439 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Tilray during the fourth quarter valued at approximately $255,000. Finally, Swiss National Bank boosted its holdings in shares of Tilray by 10.2% in the 4th quarter. Swiss National Bank now owns 1,776,638 shares of the company’s stock valued at $2,363,000 after purchasing an additional 164,600 shares in the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TLRY has been the subject of several recent analyst reports. Roth Capital restated a “neutral” rating on shares of Tilray in a research report on Monday, April 14th. Canaccord Genuity Group raised their price target on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Piper Sandler dropped their price objective 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.

Tilray Stock Performance

Shares of TLRY stock opened at $0.45 on Monday. The firm has a market capitalization of $421.94 million, a price-to-earnings ratio of -1.50 and a beta of 1.88. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $0.67 and its 200-day moving average price is $1.12. Tilray Inc has a 12 month low of $0.43 and a 12 month high of $2.52.

Tilray (NASDAQ:TLRY) last posted its earnings results on Tuesday, April 8th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). The business had revenue of $185.78 million for the quarter, compared to analyst estimates of $213.38 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. Equities research analysts forecast that Tilray Inc will post -0.2 EPS for the current year.

About Tilray

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.