Tilray (NASDAQ:TLRY) Shares Up 0.4% - Here's What Happened

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) rose 0.4% on Tuesday . The stock traded as high as $1.25 and last traded at $1.21. Approximately 10,968,820 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 25,766,971 shares. The stock had previously closed at $1.20.

Analyst Ratings Changes

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

Tilray Price Performance

The company has a 50-day moving average of $1.47 and a 200-day moving average of $1.67. 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 stock has a market cap of $1.12 billion, a price-to-earnings ratio of -4.50 and a beta of 2.08.

Tilray (NASDAQ:TLRY - Get Free Report) last released its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (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 business had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities research analysts predict that Tilray Inc will post -0.14 earnings per share for the current year.

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the company's stock in a transaction on Friday, November 15th. The shares were bought at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, 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 this link. 0.87% of the stock is owned by insiders.

Institutional Trading of Tilray

A number of institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets raised its position in Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock worth $3,202,000 after acquiring an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Tilray during the 3rd quarter worth $1,348,000. Bank of Montreal Can increased its holdings in shares of Tilray by 19.6% in the 2nd 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 in the last quarter. Creative Planning lifted its stake in shares of Tilray by 36.6% in the third quarter. Creative Planning now owns 141,921 shares of the company's stock valued at $250,000 after purchasing an additional 38,054 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Tilray by 11.5% during the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company's stock worth $1,131,000 after buying an additional 70,605 shares in the last quarter. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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.