Tilray (NASDAQ:TLRY) Trading Up 0.4% – Here’s Why

Tilray Inc (NASDAQ:TLRY) shot up 0.4% during trading on Tuesday . The stock traded as high as $1.25 and last traded at $1.21. 10,968,820 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 25,766,971 shares. The stock had previously closed at $1.20.

Wall Street Analyst Weigh In

Separately, Roth Mkm cut their price target on 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 business’s fifty day simple moving average is $1.45 and its 200 day simple moving average is $1.66. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -4.30 and a beta of 2.08. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

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

Insider Buying and Selling

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the purchase, the chief financial officer now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its holdings in shares of Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after acquiring an additional 1,690,827 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Tilray in the third quarter valued at about $1,348,000. Bank of Montreal Can boosted its position in shares of Tilray by 19.6% during the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after buying an additional 355,778 shares during the period. XTX Topco Ltd grew its holdings in shares of Tilray by 1,079.7% during the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after buying an additional 257,641 shares in the last quarter. Finally, Barclays PLC raised its position in Tilray by 600.4% in the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after buying an additional 174,997 shares during 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.