AdvisorShares Investments LLC Reduces Holdings in Tilray Inc (NASDAQ:TLRY)

AdvisorShares Investments LLC lessened its holdings in Tilray Inc (NASDAQ:TLRY) by 15.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 487,735 shares of the company’s stock after selling 87,165 shares during the period. AdvisorShares Investments LLC owned approximately 0.05% of Tilray worth $649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TLRY. Lido Advisors LLC acquired a new stake in Tilray during the 4th quarter worth approximately $28,000. Verdence Capital Advisors LLC acquired a new stake in Tilray during the 4th quarter valued at $29,000. Dudley Capital Management LLC acquired a new stake in Tilray during the 4th quarter valued at $29,000. Ameritas Advisory Services LLC purchased a new stake in Tilray in the 4th quarter valued at about $32,000. Finally, Newman Dignan & Sheerar Inc. lifted its holdings in shares of Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after acquiring an additional 10,000 shares during the period. Hedge funds and other institutional investors own 9.35% of the company’s stock.

Tilray Price Performance

Shares of TLRY stock opened at $0.48 on Tuesday. The firm has a fifty day moving average of $0.62 and a 200-day moving average of $1.07. Tilray Inc has a 12-month low of $0.43 and a 12-month high of $2.52. The firm has a market capitalization of $480.00 million, a price-to-earnings ratio of -1.59 and a beta of 1.88. 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 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). The company had revenue of $185.78 million during the quarter, compared to analyst estimates of $213.38 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. On average, equities research analysts forecast that Tilray Inc will post -0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Piper Sandler lowered their price objective on shares of Tilray from $2.00 to $1.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Roth Capital reiterated a “neutral” rating on shares of Tilray in a report on Monday, April 14th. Finally, Canaccord Genuity Group increased their target price 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.

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.