Tilray (NASDAQ:TLRY) Stock Price Up 2.2% – Here’s Why

Shares of Tilray Inc (NASDAQ:TLRY) rose 2.2% during mid-day trading on Friday . The company traded as high as $1.18 and last traded at $1.15. Approximately 12,110,177 shares traded hands during trading, a decline of 71% from the average daily volume of 42,268,156 shares. The stock had previously closed at $1.12.

Wall Street Analysts Forecast Growth

TLRY has been the topic of a number of research reports. Roth Mkm dropped their target price 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 research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.70.

Tilray Price Performance

The stock has a market cap of $1.07 billion, a P/E ratio of -3.82 and a beta of 2.08. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $1.31 and its 200-day simple moving average is $1.59.

Tilray (NASDAQ:TLRY) last announced its quarterly 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). Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that Tilray Inc will post -0.2 EPS for the current year.

Insider Transactions at Tilray

In other news, CFO Carl A. Merton bought 26,000 shares of the stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $1.36 per share, with a total value of $35,360.00. Following the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Tilray

Several large investors have recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. acquired a new position in Tilray during the 3rd quarter worth about $26,000. Ameritas Advisory Services LLC acquired a new position in Tilray during the 4th quarter worth about $32,000. International Assets Investment Management LLC lifted its position in Tilray by 335.3% during the 3rd 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. Vista Capital Partners Inc. acquired a new position in Tilray during the 3rd quarter worth about $42,000. Finally, Capital Management Associates Inc acquired a new position in Tilray during the 3rd quarter worth about $45,000. 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.