Tilray (NASDAQ:TLRY) Trading Up 8% - Here's Why

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price rose 8% during trading on Thursday . The stock traded as high as $1.45 and last traded at $1.44. Approximately 17,417,165 shares traded hands during trading, a decline of 34% from the average daily volume of 26,444,244 shares. The stock had previously closed at $1.33.

Analyst Upgrades and Downgrades

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

Tilray Stock Performance

The business's 50 day simple moving average is $1.40 and its two-hundred day simple moving average is $1.63. The firm has a market capitalization of $1.32 billion, a PE ratio of -5.41 and a beta of 2.09. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting analysts' consensus estimates of ($0.04). The company had revenue of $200.00 million during the quarter, compared to analysts' expectations 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 for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Research analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Carl A. Merton purchased 26,000 shares of the business's stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tilray

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. purchased a new stake in Tilray in the 3rd quarter worth $26,000. Jeppson Wealth Management LLC bought a new position in shares of Tilray in the second quarter worth about $33,000. Vanguard Capital Wealth Advisors purchased a new stake in shares of Tilray during the second quarter worth about $34,000. International Assets Investment Management LLC raised its stake in Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company's stock valued at $42,000 after purchasing an additional 18,208 shares during the period. Finally, Vista Capital Partners Inc. purchased a new position in Tilray in the 3rd quarter worth approximately $42,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.