Tilray (NASDAQ:TLRY) Stock Price Up 0.7% - What's Next?

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) traded up 0.7% during mid-day trading on Tuesday . The company traded as high as $1.45 and last traded at $1.41. 11,783,609 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 25,383,082 shares. The stock had previously closed at $1.40.

Analysts Set New Price Targets

Separately, Roth Mkm lowered their price target 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 Price Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The company's 50-day moving average price is $1.67 and its 200-day moving average price is $1.78. The company has a market cap of $1.33 billion, a P/E ratio of -5.22 and a beta of 2.14.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting analysts' consensus estimates of ($0.04). The firm had revenue of $200.00 million during the quarter, compared to analysts' expectations of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) earnings per share. As a group, sell-side analysts predict that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Tilray by 2.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company's stock worth $2,617,000 after acquiring an additional 37,300 shares during the period. CIBC Asset Management Inc raised its stake in shares of Tilray by 4.2% during the 3rd quarter. CIBC Asset Management Inc now owns 908,098 shares of the company's stock worth $1,599,000 after purchasing an additional 36,799 shares during the period. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Tilray in the 3rd quarter worth about $26,000. Apollon Wealth Management LLC purchased a new position in shares of Tilray in the 3rd quarter worth about $63,000. Finally, Vista Capital Partners Inc. purchased a new stake in Tilray during the third quarter worth about $42,000. 9.35% of the stock is owned by institutional investors and hedge funds.

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.

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