Tilray (NASDAQ:TLRY) Stock Price Up 2.9% - Here's What Happened

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares shot up 2.9% on Monday . The company traded as high as $1.23 and last traded at $1.23. 10,401,481 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 25,739,031 shares. The stock had previously closed at $1.19.

Wall Street Analyst Weigh In

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

Tilray Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The company has a market capitalization of $1.08 billion, a PE ratio of -4.44 and a beta of 2.08. The stock has a fifty day moving average of $1.48 and a 200 day moving average of $1.67.

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

Insider Buying and Selling at Tilray

In related news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the purchase, the chief financial officer now directly owns 26,000 shares of the company's stock, valued at approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ferguson Wellman Capital Management Inc. bought a new stake in shares of Tilray in the 3rd quarter worth about $26,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of Tilray during the second quarter valued at approximately $29,000. Jeppson Wealth Management LLC bought a new position in shares of Tilray during the second quarter valued at approximately $33,000. Vanguard Capital Wealth Advisors purchased a new stake in shares of Tilray in the second quarter worth approximately $34,000. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Tilray during the 2nd quarter worth approximately $37,000. 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.