Raymond James Financial Inc. Takes $255,000 Position in Tilray Inc (NASDAQ:TLRY)

Raymond James Financial Inc. purchased a new stake in shares of Tilray Inc (NASDAQ:TLRY) in the 4th quarter, Holdings Channel.com reports. The fund purchased 192,085 shares of the company’s stock, valued at approximately $255,000.

A number of other hedge funds also recently modified their holdings of TLRY. Verdence Capital Advisors LLC bought a new stake in Tilray in the fourth quarter valued at approximately $29,000. Ameritas Advisory Services LLC bought a new position in Tilray during the fourth quarter worth $32,000. Newman Dignan & Sheerar Inc. raised its stake in Tilray by 61.9% during the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after buying an additional 10,000 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Tilray by 125.7% during the 4th quarter. Jones Financial Companies Lllp now owns 31,725 shares of the company’s stock valued at $42,000 after purchasing an additional 17,670 shares in the last quarter. Finally, Synovus Financial Corp boosted its stake in Tilray by 176.7% during the third quarter. Synovus Financial Corp now owns 36,092 shares of the company’s stock worth $64,000 after acquiring an additional 23,046 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

Tilray Price Performance

Shares of Tilray stock opened at $0.51 on Friday. The company has a market cap of $473.89 million, a PE ratio of -1.68 and a beta of 1.88. The business has a 50 day moving average of $0.74 and a 200 day moving average of $1.18. Tilray Inc has a 52 week low of $0.44 and a 52 week high of $2.52. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TLRY shares. Canaccord Genuity Group lifted their price objective on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Piper Sandler dropped their price objective on Tilray from $2.00 to $1.00 and set a “neutral” rating for the company in a research note on Wednesday.

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.