Tilray (NASDAQ:TLRY) Trading Up 0.8% – What’s Next?

Tilray Inc (NASDAQ:TLRY) shares were up 0.8% on Friday . The company traded as high as $1.48 and last traded at $1.47. Approximately 15,046,320 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 34,716,125 shares. The stock had previously closed at $1.46.

Wall Street Analysts Forecast Growth

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

Tilray Trading Down 0.7 %

The business has a 50-day moving average of $1.40 and a 200-day moving average of $1.63. 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 stock has a market cap of $1.31 billion, a price-to-earnings ratio of -5.37 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The business had revenue of $200.00 million during the quarter, compared to analyst estimates of $218.70 million. During the same period in the previous year, the company earned ($0.10) EPS. The firm’s revenue was up 13.0% on a year-over-year basis. As a group, research analysts forecast that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Transactions at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction on Friday, November 15th. The stock was bought at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TLRY. BNP Paribas Financial Markets grew its holdings in Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after purchasing an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Tilray during the 3rd quarter worth $1,348,000. Bank of Montreal Can grew its stake in Tilray by 19.6% in the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after buying an additional 355,778 shares during the last quarter. XTX Topco Ltd raised its holdings in Tilray by 1,079.7% in the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after acquiring an additional 257,641 shares during the period. Finally, Barclays PLC lifted its position in Tilray by 600.4% during the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after acquiring an additional 174,997 shares during the last quarter. 9.35% of the stock is owned by 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.