Tilray (NASDAQ:TLRY) Shares Up 2.1% – What’s Next?

Tilray Inc (NASDAQ:TLRY) shares shot up 2.1% on Tuesday . The stock traded as high as $1.48 and last traded at $1.43. 16,812,527 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 39,471,176 shares. The stock had previously closed at $1.40.

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 for the company in a research note on Friday, October 11th.

Tilray Trading Down 5.5 %

The stock has a fifty day moving average of $1.38 and a 200-day moving average of $1.62. The company has a market cap of $1.24 billion, a PE ratio of -5.07 and a beta of 2.08. 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 issued its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $200.00 million during the quarter, compared to analyst estimates 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 period in the previous year, the firm earned ($0.10) earnings per share. Sell-side analysts anticipate that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling at Tilray

In other news, CFO Carl A. Merton bought 26,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional Trading of Tilray

A number of hedge funds have recently added to or reduced their stakes in TLRY. Ferguson Wellman Capital Management Inc. purchased a new position in Tilray during the 3rd quarter valued at about $26,000. Vanguard Capital Wealth Advisors bought a new position in Tilray in the second quarter worth approximately $34,000. International Assets Investment Management LLC lifted its holdings in 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 during the period. Vista Capital Partners Inc. bought a new stake in Tilray during the 3rd quarter valued at $42,000. Finally, Capital Management Associates Inc purchased a new position in shares of Tilray in the 3rd quarter valued at $45,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.