Tilray (NASDAQ:TLRY) Trading 0.4% Higher – What’s Next?

Tilray Inc (NASDAQ:TLRY) shot up 0.4% during mid-day trading on Wednesday . The company traded as high as $1.38 and last traded at $1.37. 8,812,914 shares were traded during mid-day trading, a decline of 65% from the average session volume of 25,454,963 shares. The stock had previously closed at $1.36.

Analyst Upgrades and Downgrades

Separately, Roth Mkm decreased 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 50-day moving average of $1.58 and a 200 day moving average of $1.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $200.00 million for the quarter, compared to analysts’ expectations of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.10) EPS. Equities research analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Carl A. Merton acquired 26,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the acquisition, the chief financial officer now owns 26,000 shares of the company’s stock, valued at approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prospect Financial Services LLC acquired a new stake in Tilray in the second quarter valued at approximately $26,000. Ferguson Wellman Capital Management Inc. acquired a new stake in Tilray in the 3rd quarter valued at $26,000. Signature Estate & Investment Advisors LLC acquired a new stake in Tilray in the 2nd quarter valued at $29,000. Jeppson Wealth Management LLC bought a new stake in Tilray during the 2nd quarter valued at $33,000. Finally, Vanguard Capital Wealth Advisors acquired a new position in Tilray during the second quarter worth $34,000. 9.35% of the stock is owned by institutional investors.

About Tilray

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.