Tilray (NASDAQ:TLRY) Stock Price Up 4% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s share price rose 4% on Friday . The stock traded as high as $1.71 and last traded at $1.71. Approximately 7,497,567 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 25,026,160 shares. The stock had previously closed at $1.64.

Wall Street Analyst Weigh In

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

Tilray Trading Up 4.4 %

The stock has a market capitalization of $1.33 billion, a P/E ratio of -3.88 and a beta of 2.13. The firm’s 50 day moving average price is $1.71 and its 200 day moving average price is $1.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57.

Tilray (NASDAQ:TLRY) last issued its 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). The firm had revenue of $200.00 million for the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. As a group, equities research analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TLRY. Tidal Investments LLC lifted its position in Tilray by 36,687.0% during the first quarter. Tidal Investments LLC now owns 10,677,428 shares of the company’s stock valued at $26,373,000 after purchasing an additional 10,648,403 shares during the period. Bank of Montreal Can lifted its position in Tilray by 19.6% during the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after purchasing an additional 355,778 shares during the period. Virtu Financial LLC bought a new position in Tilray during the first quarter valued at approximately $586,000. Mirae Asset Global Investments Co. Ltd. raised its position in Tilray by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock worth $6,699,000 after acquiring an additional 213,834 shares during the period. Finally, J.W. Cole Advisors Inc. raised its position in Tilray by 1,077.2% in the second quarter. J.W. Cole Advisors Inc. now owns 171,054 shares of the company’s stock worth $284,000 after acquiring an additional 156,524 shares during the period. 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.