Tilray (NASDAQ:TLRY) Stock Price Up 0% – Here’s Why

Shares of Tilray Inc (NASDAQ:TLRY) shot up 0% during mid-day trading on Friday . The company traded as high as $1.33 and last traded at $1.30. 5,900,985 shares were traded during trading, a decline of 77% from the average session volume of 25,418,176 shares. The stock had previously closed at $1.30.

Wall Street Analyst Weigh In

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

Tilray Price Performance

The company has a fifty day simple moving average of $1.54 and a 200-day simple moving average of $1.70. The company has a market cap of $1.16 billion, a P/E ratio of -4.82 and a beta of 2.08. 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 announced its earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. Tilray’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) earnings per share. On average, sell-side analysts predict that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Activity at Tilray

In related news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost 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 approximately $35,360. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Tilray

Institutional investors have recently modified their holdings of the stock. Prospect Financial Services LLC purchased a new stake in shares of Tilray during the second quarter worth $26,000. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray during the 3rd quarter valued at about $26,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of Tilray in the 2nd quarter valued at approximately $29,000. Jeppson Wealth Management LLC bought a new stake in shares of Tilray in the 2nd quarter valued at approximately $33,000. Finally, Vanguard Capital Wealth Advisors acquired a new position in Tilray in the second quarter worth approximately $34,000. Institutional investors and hedge funds 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.