Tilray (NASDAQ:TLRY) Trading Up 0.7% – What’s Next?

Tilray Inc (NASDAQ:TLRY)’s share price traded up 0.7% on Thursday . The company traded as high as $1.39 and last traded at $1.37. 19,946,382 shares were traded during trading, a decline of 22% from the average session volume of 25,521,600 shares. The stock had previously closed at $1.36.

Analyst Ratings Changes

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

Tilray Price Performance

The stock’s 50 day moving average price is $1.58 and its two-hundred day moving average price is $1.73. 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 firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -5.07 and a beta of 2.14.

Tilray (NASDAQ:TLRY) last released its quarterly 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 net margin of 26.79% and a negative return on equity of 2.00%. The company had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. During the same period in the prior year, the company earned ($0.10) earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts anticipate that Tilray Inc will post -0.14 EPS for the current year.

Insider Activity

In related news, CFO Carl A. Merton bought 26,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the purchase, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TLRY. Bank of Montreal Can lifted its position 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 worth $3,622,000 after acquiring an additional 355,778 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Tilray during the first quarter worth $118,000. Creative Planning increased 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 buying an additional 38,054 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Tilray by 11.5% in the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock valued at $1,131,000 after buying an additional 70,605 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in Tilray by 13.3% during the 2nd quarter. CIBC Asset Management Inc now owns 871,299 shares of the company’s stock worth $1,445,000 after buying an additional 102,316 shares in the last quarter. Institutional investors and hedge funds 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.