Tilray (NASDAQ:TLRY) Trading 6% Higher - Here's What Happened

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) traded up 6% on Monday . The company traded as high as $1.42 and last traded at $1.42. 9,577,564 shares were traded during mid-day trading, a decline of 62% from the average session volume of 25,460,709 shares. The stock had previously closed at $1.34.

Wall Street Analyst Weigh In

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

Tilray Stock Performance

The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -5.26 and a beta of 2.14. The company has a 50 day moving average price of $1.61 and a 200 day moving average price of $1.74. 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 announced its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting 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 firm had revenue of $200.00 million during the quarter, compared to analysts' expectations of $218.70 million. During the same quarter last year, the firm posted ($0.10) earnings per share. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. Equities research analysts predict that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Carl A. Merton purchased 26,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost 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 trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.87% of the company's stock.

Hedge Funds Weigh In On Tilray

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Prospect Financial Services LLC purchased a new stake in Tilray during the second quarter worth about $26,000. Ferguson Wellman Capital Management Inc. bought a new stake in shares of Tilray in the 3rd quarter worth approximately $26,000. Signature Estate & Investment Advisors LLC purchased a new position in Tilray in the second quarter valued at approximately $29,000. Jeppson Wealth Management LLC bought a new position in Tilray during the second quarter valued at $33,000. Finally, Vanguard Capital Wealth Advisors purchased a new stake in Tilray in the second quarter worth $34,000. Hedge funds and other institutional investors 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.

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