Tilray (NASDAQ:TLRY) Trading Up 2.6% – Here’s Why

Tilray Inc (NASDAQ:TLRY) traded up 2.6% during trading on Thursday . The company traded as high as $1.22 and last traded at $1.19. 10,586,744 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 25,773,332 shares. The stock had previously closed at $1.16.

Wall Street Analyst Weigh In

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

Tilray Trading Up 8.6 %

The company’s 50-day moving average is $1.44 and its 200 day moving average is $1.65. The firm has a market cap of $1.14 billion, a PE ratio of -4.67 and a beta of 2.08. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $200.00 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.10) earnings per share. As a group, sell-side 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 acquired 26,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $1.36 per share, with a total value of $35,360.00. Following the acquisition, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Institutional investors have recently bought and sold shares of the business. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray in the third quarter valued at approximately $26,000. Signature Estate & Investment Advisors LLC acquired a new stake in Tilray in the second quarter valued at $29,000. Jeppson Wealth Management LLC bought a new position in Tilray during the 2nd quarter worth $33,000. Vanguard Capital Wealth Advisors acquired a new position in Tilray during the 2nd quarter worth about $34,000. Finally, Vista Capital Partners Inc. bought a new stake in shares of Tilray in the 3rd quarter valued at about $42,000. 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.