Tilray (NASDAQ:TLRY) Shares Up 2.1% – What’s Next?

Tilray Inc (NASDAQ:TLRY) traded up 2.1% during mid-day trading on Tuesday . The company traded as high as $1.48 and last traded at $1.43. Approximately 16,812,527 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 39,471,176 shares. The stock had previously closed at $1.40.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm lowered their target price 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 Down 5.5 %

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 stock has a fifty day moving average of $1.38 and a 200 day moving average of $1.62. The company has a market capitalization of $1.24 billion, a PE ratio of -5.07 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last issued its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates 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%. Tilray’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) earnings per share. As a group, sell-side analysts predict that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Tilray

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can lifted its holdings in shares of Tilray by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after acquiring an additional 7,406 shares during the last quarter. State Street Corp lifted its stake in shares of Tilray by 4.7% in the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after purchasing an additional 88,079 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Tilray by 1,314.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after purchasing an additional 1,690,827 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Tilray by 6.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after purchasing an additional 107,530 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Tilray by 2.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock valued at $2,617,000 after purchasing an additional 37,300 shares during the last quarter. 9.35% of the stock is owned by hedge funds and other 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.