Tilray (NASDAQ:TLRY) Trading Up 2.5% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s stock price rose 2.5% during mid-day trading on Tuesday . The stock traded as high as $1.05 and last traded at $1.02. Approximately 9,144,257 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 42,233,113 shares. The stock had previously closed at $0.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TLRY shares. Canaccord Genuity Group lifted their target price on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Roth Mkm decreased their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Tilray currently has a consensus rating of “Hold” and an average price target of $2.70.

Tilray Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The business has a 50 day moving average price of $1.26 and a two-hundred day moving average price of $1.54. The stock has a market cap of $942.35 million, a PE ratio of -3.35 and a beta of 2.07.

Tilray (NASDAQ:TLRY) last announced its earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. The business’s revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts forecast that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Transactions at Tilray

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TLRY. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray in the 3rd quarter worth $26,000. International Assets Investment Management LLC boosted its stake in shares of Tilray by 335.3% in the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after acquiring an additional 18,208 shares during the last quarter. Vista Capital Partners Inc. acquired a new stake in Tilray in the 3rd quarter valued at about $42,000. Ameritas Advisory Services LLC acquired a new position in shares of Tilray during the 4th quarter valued at about $32,000. Finally, Capital Management Associates Inc acquired a new stake in Tilray during the third quarter worth $45,000. 9.35% of the stock is currently 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.