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

Tilray Inc (NASDAQ:TLRY) was up 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 mid-day trading, an increase of 46% from the average daily volume of 25,927,029 shares. The stock had previously closed at $1.26.

Analyst Upgrades and Downgrades

Separately, Roth Mkm dropped their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, October 11th.

Tilray Stock Performance

The stock has a fifty day moving average price of $1.44 and a 200 day moving average price of $1.65. 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 has a market cap of $1.26 billion, a price-to-earnings ratio of -5.19 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. 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 company earned ($0.10) earnings per share. Tilray’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, analysts predict that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Activity

In related news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TLRY. Ferguson Wellman Capital Management Inc. bought a new position in Tilray in the third quarter worth $26,000. Signature Estate & Investment Advisors LLC bought a new position in shares of Tilray during the 2nd quarter worth about $29,000. Jeppson Wealth Management LLC acquired a new stake in shares of Tilray during the 2nd quarter valued at about $33,000. Vanguard Capital Wealth Advisors bought a new stake in Tilray in the second quarter valued at about $34,000. Finally, International Assets Investment Management LLC raised its position 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 purchasing an additional 18,208 shares in the last quarter. 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.