5 Best CBD Stocks to Invest In

2. Tilray, Inc. (NASDAQ: TLRY)

Number of Hedge Fund Holders: 21

Tilray, Inc. (NASDAQ: TLRY) ranks 2nd on the 10 best CBD stocks to invest in. The Canadian pharmaceutical company develops and markets medical marijuana and cannabinoids. The company has established North America, Latin America, New Zealand, Europe, and Australia.

On July 27, Cantor Fitzgerald analyst Pablo Zuanic maintained an Overweight rating on Tilray, Inc. (NASDAQ: TLRY) and a price target of $19 per share. In May, Jefferies analyst Owen Bennett upgraded Tilray, Inc. (NASDAQ: TLRY) to a Buy rating and increased the firm’s price target to $23 per share. Following its merger with Ontario-based medical marijuana producer Aphria Inc., the marijuana firm is now among the most significant leaders in the Canadian industry, according to the analyst. It also has potential in the US market. Shares of Tilray, Inc. (NASDAQ: TLRY) increased 66% year to date.

The company has a market cap of $6.1 billion. In the first quarter of 2021, Tilray, Inc. (NASDAQ: TLRY) had an EPS of -$1.75, missing estimates by $1.67. The company’s revenue in 2020 increased by 26% year over year to $210.5 million, owing to a 153% increase in international medical marijuana sales.

At the end of the first quarter of 2021, 21 hedge funds in the database of Insider Monkey held stakes worth $257 million in Tilray, Inc. (NASDAQ: TLRY), up from 17 in the previous quarter worth $47 million.