Tilray (NASDAQ:TLRY) Trading Up 0.2% - Here's What Happened

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) rose 0.2% during mid-day trading on Wednesday . The stock traded as high as $1.72 and last traded at $1.71. Approximately 4,769,040 shares traded hands during trading, a decline of 81% from the average daily volume of 25,034,281 shares. The stock had previously closed at $1.71.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm dropped their target price on Tilray from $2.00 to $1.75 and set a "neutral" rating on the stock in a research report on Friday, October 11th.

Tilray Stock Down 1.2 %

The business's fifty day moving average price is $1.70 and its two-hundred day moving average price is $1.79. The firm has a market capitalization of $1.31 billion, a P/E ratio of -3.84 and a beta of 2.13. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.04). The business had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company's revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. Equities analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tilray

A number of institutional investors and hedge funds have recently modified their holdings of TLRY. Tidal Investments LLC boosted 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 worth $26,373,000 after purchasing an additional 10,648,403 shares in the last quarter. Vanguard Group Inc. lifted its stake in Tilray by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company's stock worth $8,707,000 after purchasing an additional 117,891 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Tilray by 8.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company's stock valued at $6,699,000 after acquiring an additional 213,834 shares during the period. Bank of Montreal Can boosted its stake in shares of Tilray by 19.6% in 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. Finally, Swiss National Bank grew its stake in shares of Tilray by 3.6% in the first quarter. Swiss National Bank now owns 1,490,938 shares of the company's stock worth $3,683,000 after acquiring an additional 51,700 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company's stock.

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.