Tilray (NASDAQ:TLRY) Shares Up 1.3% – What’s Next?

Shares of Tilray Inc (NASDAQ:TLRY) were up 1.3% on Wednesday . The company traded as high as $1.23 and last traded at $1.20. Approximately 16,659,630 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 42,269,934 shares. The stock had previously closed at $1.18.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Roth Mkm reduced their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity Group boosted their target price on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Tilray presently has an average rating of “Hold” and an average target price of $2.70.

Tilray Stock Up 1.7 %

The stock has a market cap of $1.08 billion, a P/E ratio of -4.00 and a beta of 2.08. The company’s fifty day moving average price is $1.33 and its 200-day moving average price is $1.60. 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 announced its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The business had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The business’s revenue was up 8.7% compared to the same quarter last year. Equities analysts forecast that Tilray Inc will post -0.14 EPS for the current year.

Insider Buying and Selling at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, the chief financial officer now owns 26,000 shares of the company’s stock, valued at approximately $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Tilray in the 3rd quarter worth $26,000. International Assets Investment Management LLC lifted its stake in 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 period. Vista Capital Partners Inc. bought a new position in Tilray during the 3rd quarter worth about $42,000. Ameritas Advisory Services LLC purchased a new position in Tilray during the 4th quarter valued at about $32,000. Finally, Capital Management Associates Inc bought a new stake in shares of Tilray in the 3rd quarter valued at about $45,000. 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.