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

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

Analysts Set New Price Targets

Separately, Roth Mkm reduced 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.

Tilray Stock Performance

The firm has a fifty day moving average of $1.44 and a 200-day moving average of $1.65. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.26 billion, a P/E ratio of -5.19 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) 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 company had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. During the same quarter in the previous year, the company earned ($0.10) EPS. Tilray’s revenue was up 13.0% on a year-over-year basis. Research analysts predict that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Tilray

In related news, CFO Carl A. Merton bought 26,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC bought a new stake in Tilray in the second quarter valued at approximately $29,000. CIBC Asset Management Inc raised its stake in Tilray by 13.3% during the 2nd quarter. CIBC Asset Management Inc now owns 871,299 shares of the company’s stock worth $1,445,000 after buying an additional 102,316 shares during the period. TD Asset Management Inc lifted its holdings in Tilray by 8.1% during the second quarter. TD Asset Management Inc now owns 1,373,045 shares of the company’s stock worth $2,278,000 after acquiring an additional 103,207 shares in the last quarter. CapWealth Advisors LLC grew its stake in Tilray by 21.1% in the second quarter. CapWealth Advisors LLC now owns 108,960 shares of the company’s stock valued at $181,000 after acquiring an additional 18,960 shares during the period. Finally, Arizona State Retirement System grew its stake in Tilray by 4.4% in the second quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock valued at $360,000 after acquiring an additional 9,171 shares during the period. 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.