Tilray (NASDAQ:TLRY) Stock Price Up 2.3% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) shares traded up 2.3% on Thursday . The company traded as high as $1.13 and last traded at $1.10. 23,890,441 shares were traded during trading, a decline of 48% from the average session volume of 45,624,891 shares. The stock had previously closed at $1.07.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TLRY. Canaccord Genuity Group boosted their price target on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Roth Mkm dropped their price target 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Down 5.7 %

The firm has a market cap of $937.66 million, a price-to-earnings ratio of -3.33 and a beta of 2.07. The business’s 50-day moving average is $1.24 and its 200-day moving average is $1.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts predict that Tilray Inc will post -0.2 EPS for the current year.

Insider Activity at Tilray

In related news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Hedge funds have recently modified their holdings of the stock. Marathon Trading Investment Management LLC raised its position in Tilray by 439.0% in the 4th quarter. Marathon Trading Investment Management LLC now owns 240,400 shares of the company’s stock worth $320,000 after purchasing an additional 195,800 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Tilray during the fourth quarter worth $255,000. Arizona State Retirement System raised its position in shares of Tilray by 9.9% during the fourth quarter. Arizona State Retirement System now owns 261,233 shares of the company’s stock worth $347,000 after acquiring an additional 23,439 shares during the last quarter. Verdence Capital Advisors LLC acquired a new position in shares of Tilray during the fourth quarter valued at $29,000. Finally, SBI Securities Co. Ltd. bought a new position in Tilray in the fourth quarter valued at about $313,000. 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.