Tilray (NASDAQ:TLRY) Stock Price Up 2.6% – Here’s What Happened

Tilray Inc (NASDAQ:TLRYGet Free Report)’s share price shot up 2.6% on Thursday . The company traded as high as $1.22 and last traded at $1.19. 10,586,744 shares changed hands during trading, a decline of 59% from the average session volume of 25,773,332 shares. The stock had previously closed at $1.16.

Wall Street Analysts Forecast Growth

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

Read Our Latest Analysis on TLRY

Tilray Stock Performance

The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -4.67 and a beta of 2.08. The company has a 50 day moving average price of $1.44 and a 200 day moving average price of $1.65. 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:TLRYGet Free Report) last released its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $200.00 million for the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.10) earnings per share. Equities research analysts predict that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Tilray

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

Institutional Trading of Tilray

Hedge funds and other institutional investors have recently bought and sold shares of the company. Synovus Financial Corp lifted its holdings in shares of Tilray by 176.7% during the 3rd quarter. Synovus Financial Corp now owns 36,092 shares of the company’s stock worth $64,000 after acquiring an additional 23,046 shares during the last quarter. Barclays PLC increased its position in shares of Tilray by 600.4% during the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after purchasing an additional 174,997 shares during the last quarter. Toronto Dominion Bank lifted its position in Tilray by 454.5% in the 3rd quarter. Toronto Dominion Bank now owns 128,923 shares of the company’s stock worth $227,000 after buying an additional 105,671 shares during the last quarter. XTX Topco Ltd grew its position in Tilray by 1,079.7% during the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock valued at $495,000 after acquiring an additional 257,641 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Tilray by 4.7% during the third quarter. State Street Corp now owns 1,961,338 shares of the company’s stock worth $3,452,000 after acquiring an additional 88,079 shares in the last quarter. Institutional investors own 9.35% of the company’s stock.

Tilray Company Profile

(Get Free Report)

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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