Tilray (NASDAQ:TLRY) Trading Up 1.6% – Here’s What Happened

Shares of Tilray Inc (NASDAQ:TLRY) rose 1.6% during trading on Thursday . The company traded as high as $1.48 and last traded at $1.43. Approximately 14,013,821 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 26,192,488 shares. The stock had previously closed at $1.41.

Analyst Upgrades and Downgrades

Separately, Roth Mkm lowered their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th.

Tilray Stock Performance

The company’s fifty day simple moving average is $1.43 and its two-hundred day simple moving average is $1.65. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -5.39 and a beta of 2.09. 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 issued its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm had revenue of $200.00 million for the quarter, compared to analysts’ expectations of $218.70 million. During the same quarter last year, the company posted ($0.10) earnings per share. Tilray’s revenue was up 13.0% on a year-over-year basis. Equities research analysts predict that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Carl A. Merton purchased 26,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were bought at an average cost 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. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Hedge funds and other institutional investors have recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. acquired a new stake in Tilray in the 3rd quarter valued at about $26,000. Signature Estate & Investment Advisors LLC bought a new position in shares of Tilray in the second quarter valued at $29,000. Jeppson Wealth Management LLC acquired a new stake in shares of Tilray during the 2nd quarter valued at $33,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Tilray in the 2nd quarter worth $34,000. Finally, International Assets Investment Management LLC increased its stake in Tilray by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after purchasing an additional 18,208 shares in the last quarter. Institutional investors own 9.35% of the company’s stock.

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.