Tilray (NASDAQ:TLRY) Trading 0.9% Higher – Here’s What Happened

Tilray Inc (NASDAQ:TLRY)’s stock price was up 0.9% during mid-day trading on Tuesday . The company traded as high as $1.75 and last traded at $1.75. Approximately 7,329,748 shares traded hands during trading, a decline of 71% from the average daily volume of 25,050,459 shares. The stock had previously closed at $1.73.

Analysts Set New Price Targets

Separately, Roth Mkm reduced 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.

Tilray Stock Performance

The firm has a market cap of $1.34 billion, a P/E ratio of -3.96 and a beta of 2.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The business’s 50-day simple moving average is $1.71 and its 200 day simple moving average is $1.79.

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

Institutional Investors Weigh In On Tilray

Several institutional investors have recently modified their holdings of the stock. Prospect Financial Services LLC bought a new stake in Tilray in the second quarter worth $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in Tilray in the 2nd quarter worth about $29,000. Jeppson Wealth Management LLC bought a new stake in Tilray in the second quarter worth about $33,000. Vanguard Capital Wealth Advisors purchased a new position in shares of Tilray during the second quarter valued at approximately $34,000. Finally, HBK Sorce Advisory LLC purchased a new stake in shares of Tilray in the first quarter worth approximately $37,000. 9.35% of the stock is owned by institutional investors.

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.