Tilray (NASDAQ:TLRY) Trading Up 1.1% – Here’s Why

Shares of Tilray Inc (NASDAQ:TLRY) shot up 1.1% during trading on Friday . The stock traded as high as $1.35 and last traded at $1.33. 5,394,033 shares traded hands during trading, a decline of 79% from the average session volume of 25,466,869 shares. The stock had previously closed at $1.31.

Analyst Ratings Changes

Separately, Roth Mkm lowered their price objective on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research report on Friday, October 11th.

Tilray Stock Performance

The firm has a market cap of $1.21 billion, a P/E ratio of -5.06 and a beta of 2.14. The stock’s 50-day moving average price is $1.62 and its 200 day moving average price is $1.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) earnings per share. As a group, equities analysts predict that Tilray Inc will post -0.14 EPS for the current year.

Insider Buying and Selling at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Hedge funds have recently bought and sold shares of the business. Tidal Investments LLC increased its stake in Tilray by 36,687.0% during the 1st quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock valued at $26,373,000 after purchasing an additional 10,648,403 shares in the last quarter. Vanguard Group Inc. increased its holdings in Tilray by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after buying an additional 117,891 shares in the last quarter. Bank of Montreal Can lifted its stake in Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after acquiring an additional 7,406 shares during the period. State Street Corp boosted its holdings in shares of Tilray by 4.7% during the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after acquiring an additional 88,079 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Tilray by 1,314.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares during the last quarter. Institutional investors own 9.35% of the company’s stock.

Tilray Company 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.