Tilray (NASDAQ:TLRY) Shares Up 3.9% – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s share price was up 3.9% on Thursday . The company traded as high as $1.35 and last traded at $1.34. Approximately 13,880,792 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 25,475,352 shares. The stock had previously closed at $1.29.

Analyst Ratings Changes

Separately, Roth Mkm dropped 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 Price Performance

The company’s fifty day moving average price is $1.62 and its 200 day moving average price is $1.75. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last announced its earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.10) earnings per share. On average, equities research analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the acquisition, the chief financial officer now owns 26,000 shares of the company’s stock, valued at approximately $35,360. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is currently owned by corporate insiders.

Institutional Trading of Tilray

A number of large investors have recently added to or reduced their stakes in TLRY. Tidal Investments LLC increased its holdings in Tilray by 36,687.0% during the first quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock worth $26,373,000 after buying an additional 10,648,403 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after purchasing an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Tilray in the third quarter worth about $1,348,000. Bank of Montreal Can increased its stake in shares of Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after purchasing an additional 355,778 shares in the last quarter. Finally, XTX Topco Ltd increased its stake in shares of Tilray by 1,079.7% in the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after purchasing an additional 257,641 shares in the last quarter. Hedge funds and other 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.