Tilray (NASDAQ:TLRY) Stock Price Up 2.6% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s share price shot 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.

Analysts Set New Price Targets

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

Tilray Trading Up 0.8 %

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 business’s 50-day moving average price is $1.45 and its 200 day moving average price is $1.66. The company has a market cap of $1.06 billion, a P/E ratio of -4.33 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last issued its earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same period in the previous year, the company posted ($0.10) EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, analysts expect that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Carl A. Merton bought 26,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was purchased 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 in the company, valued at $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ferguson Wellman Capital Management Inc. acquired a new position in Tilray during the 3rd quarter worth about $26,000. Signature Estate & Investment Advisors LLC acquired a new stake in Tilray during the 2nd quarter valued at approximately $29,000. Jeppson Wealth Management LLC bought a new position in Tilray during the 2nd quarter worth approximately $33,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Tilray in the 2nd quarter worth approximately $34,000. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Tilray in the 2nd quarter valued at $37,000. Institutional investors 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.