Short Interest in Tilray Inc (NASDAQ:TLRY) Expands By 26.6%

Tilray Inc (NASDAQ:TLRYGet Rating) was the target of a significant growth in short interest during the month of December. As of December 30th, there was short interest totalling 56,880,000 shares, a growth of 26.6% from the December 15th total of 44,930,000 shares. Based on an average daily volume of 21,460,000 shares, the days-to-cover ratio is currently 2.7 days.

Insider Activity

In other news, Director Brendan Kennedy sold 350,000 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $3.78, for a total value of $1,323,000.00. Following the sale, the director now directly owns 6,224,196 shares in the company, valued at $23,527,460.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.54% of the company’s stock.

Hedge Funds Weigh In On Tilray

A number of hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV raised its stake in shares of Tilray by 10.0% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 28,072 shares of the company’s stock valued at $77,000 after acquiring an additional 2,550 shares during the period. Rhumbline Advisers grew its holdings in Tilray by 20.4% during the 2nd quarter. Rhumbline Advisers now owns 15,464 shares of the company’s stock valued at $48,000 after purchasing an additional 2,623 shares in the last quarter. Wedbush Securities Inc. grew its holdings in Tilray by 6.4% during the 2nd quarter. Wedbush Securities Inc. now owns 45,454 shares of the company’s stock valued at $142,000 after purchasing an additional 2,748 shares in the last quarter. Resources Investment Advisors LLC. grew its holdings in Tilray by 25.1% during the 3rd quarter. Resources Investment Advisors LLC. now owns 14,429 shares of the company’s stock valued at $40,000 after purchasing an additional 2,895 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in Tilray by 8.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 40,591 shares of the company’s stock valued at $112,000 after purchasing an additional 2,994 shares in the last quarter. Hedge funds and other institutional investors own 11.59% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TLRY. Sanford C. Bernstein began coverage on shares of Tilray in a research note on Tuesday, November 1st. They set a “market perform” rating and a $3.90 price objective on the stock. Alliance Global Partners reduced their price objective on shares of Tilray from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Monday, January 9th. Cantor Fitzgerald upped their price objective on shares of Tilray from $4.15 to $4.50 and gave the company a “neutral” rating in a research note on Monday, October 10th. Haywood Securities reduced their price objective on shares of Tilray to $3.50 in a research note on Thursday, October 13th. Finally, Barclays reduced their price objective on shares of Tilray from $4.50 to $2.00 and set an “underweight” rating on the stock in a research note on Friday, September 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Tilray currently has an average rating of “Hold” and an average price target of $5.08.

Tilray Stock Performance

NASDAQ:TLRY opened at $3.05 on Friday. The firm’s 50 day moving average is $3.36 and its two-hundred day moving average is $3.45. Tilray has a fifty-two week low of $2.52 and a fifty-two week high of $9.08. The company has a quick ratio of 1.35, a current ratio of 1.91 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.88 billion, a P/E ratio of -2.90 and a beta of 2.67.

Tilray (NASDAQ:TLRYGet Rating) last issued its earnings results on Monday, January 9th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Tilray had a negative net margin of 89.96% and a negative return on equity of 5.10%. The business had revenue of $144.10 million during the quarter, compared to analysts’ expectations of $157.21 million. Tilray’s revenue was down 7.1% on a year-over-year basis. Analysts expect that Tilray will post -0.34 EPS for the current year.

About Tilray

(Get Rating)

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.

Further Reading

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