Tilray (NASDAQ:TLRY) Trading Up 0.4% – Here’s Why

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

Wall Street Analysts Forecast Growth

Separately, Roth Mkm dropped their target price on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a report on Friday, October 11th.

Tilray Trading Up 0.7 %

The firm has a market cap of $1.24 billion, a P/E ratio of -5.06 and a beta of 2.14. The firm has a fifty day moving average of $1.59 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 announced its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities research analysts forecast that Tilray Inc will post -0.14 earnings per share for the current year.

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the acquisition, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Tilray by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock valued at $8,707,000 after purchasing an additional 117,891 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Tilray in the 1st quarter worth approximately $118,000. Bayesian Capital Management LP boosted its holdings in shares of Tilray by 193.0% in the first quarter. Bayesian Capital Management LP now owns 54,800 shares of the company’s stock valued at $135,000 after acquiring an additional 36,100 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Tilray by 4.4% during the first quarter. California State Teachers Retirement System now owns 678,990 shares of the company’s stock valued at $1,677,000 after acquiring an additional 28,586 shares during the period. Finally, Virtu Financial LLC bought a new stake in Tilray during the first quarter worth approximately $586,000. Institutional investors and hedge funds 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.