Tilray (NASDAQ:TLRY) Stock Price Up 3.9% – Here’s What Happened

Shares of Tilray Inc (NASDAQ:TLRY) traded up 3.9% during mid-day trading on Friday . The stock traded as high as $1.22 and last traded at $1.21. 9,569,517 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 25,761,801 shares. The stock had previously closed at $1.16.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reduced their price objective on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th.

Tilray Stock Up 6.5 %

The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -4.57 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. The firm’s 50 day simple moving average is $1.45 and its 200-day simple moving average is $1.66.

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

Insider Activity at Tilray

In related news, CFO Carl A. Merton acquired 26,000 shares of Tilray stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the purchase, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Several institutional investors have recently modified their holdings of the company. Synovus Financial Corp boosted its position in Tilray by 176.7% during the third quarter. Synovus Financial Corp now owns 36,092 shares of the company’s stock worth $64,000 after purchasing an additional 23,046 shares in the last quarter. Barclays PLC lifted its holdings in shares of Tilray by 600.4% in the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after purchasing an additional 174,997 shares in the last quarter. Toronto Dominion Bank grew its position in shares of Tilray by 454.5% in the third quarter. Toronto Dominion Bank now owns 128,923 shares of the company’s stock valued at $227,000 after purchasing an additional 105,671 shares during the last quarter. XTX Topco Ltd raised its position in shares of Tilray by 1,079.7% during the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after purchasing an additional 257,641 shares during the last quarter. Finally, State Street Corp raised its position in shares of Tilray by 4.7% during the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock worth $3,452,000 after purchasing an additional 88,079 shares during 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.