Tilray (NASDAQ:TLRY) Shares Up 5.2% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) shares rose 5.2% during mid-day trading on Monday . The company traded as high as $1.42 and last traded at $1.33. Approximately 37,910,535 shares changed hands during trading, an increase of 46% from the average daily volume of 25,927,029 shares. The stock had previously closed at $1.26.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm lowered 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.

Tilray Stock Performance

The stock’s fifty day simple moving average is $1.44 and its two-hundred day simple moving average is $1.65. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -5.22 and a beta of 2.09. 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 released 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 company had revenue of $200.00 million for the quarter, compared to the consensus estimate of $218.70 million. During the same period last year, the business posted ($0.10) EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts anticipate that Tilray Inc will post -0.14 EPS for the current year.

Insider Buying and Selling

In related news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction 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 acquisition, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tilray

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray during the third quarter valued at about $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in Tilray during the 2nd quarter worth approximately $29,000. Jeppson Wealth Management LLC acquired a new position in shares of Tilray in the 2nd quarter valued at approximately $33,000. Vanguard Capital Wealth Advisors purchased a new position in shares of Tilray during the 2nd quarter valued at approximately $34,000. Finally, International Assets Investment Management LLC grew its position in shares of Tilray by 335.3% during the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after buying an additional 18,208 shares in 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.