Pallas Capital Advisors LLC Increases Investment in Tilray Inc.

LOS ANGELES- Pallas Capital Advisors LLC has significantly increased its investment in Tilray Inc, a company in the cannabis industry. According to the firm’s latest 13F filing with the Securities and Exchange Commission, Pallas Capital Advisors raised its holdings by 59.4% during the fourth quarter, acquiring an additional 18,792 shares. This brings their total to 50,438 shares, valued at approximately $67,000.

Tilray Inc., headquartered in Canada, is engaged in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in various countries, including Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa.

In recent financial disclosures, Tilray reported a 13% year-over-year increase in quarterly revenue. Despite this growth, the company posted a net loss, with earnings per share at negative $0.14. Analysts forecast that Tilray will continue to experience negative earnings per share for the current fiscal year.

Analyst perspectives on Tilray’s stock remain mixed. Canaccord Genuity Group raised its price target from $2.00 to $3.00 and gave the stock a “buy” rating. Conversely, Roth MKM lowered its target price from $2.00 to $1.75 and set a “neutral” rating for the company. Currently, three analysts have rated the stock with a hold rating, while two have issued a buy rating.