Tilray (NASDAQ:TLRY) Stock Price Up 1.3% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY)’s share price rose 1.3% during mid-day trading on Wednesday . The company traded as high as $1.23 and last traded at $1.20. Approximately 16,659,630 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 42,269,934 shares. The stock had previously closed at $1.18.

Wall Street Analyst Weigh In

TLRY has been the topic of a number of research analyst reports. Canaccord Genuity Group boosted their price target on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Monday. Roth Mkm cut their target price 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tilray has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Up 0.8 %

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 company has a market cap of $1.07 billion, a price-to-earnings ratio of -4.41 and a beta of 2.08. The firm’s fifty day simple moving average is $1.34 and its 200 day simple moving average is $1.61.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. The company’s revenue was up 8.7% on a year-over-year basis. Sell-side analysts predict that Tilray Inc will post -0.14 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Tilray in the 3rd quarter valued at $26,000. International Assets Investment Management LLC boosted its holdings in shares of Tilray by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after buying an additional 18,208 shares in the last quarter. Vista Capital Partners Inc. acquired a new position in shares of Tilray in the 3rd quarter valued at $42,000. Capital Management Associates Inc acquired a new position in shares of Tilray in the 3rd quarter valued at $45,000. Finally, Vestor Capital LLC acquired a new position in shares of Tilray in the 3rd quarter valued at $53,000. 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.