Tilray (NASDAQ:TLRY) Sees Unusually-High Trading Volume – What’s Next?

Tilray Inc (NASDAQ:TLRY) saw unusually-strong trading volume on Tuesday . Approximately 33,914,189 shares changed hands during mid-day trading, an increase of 30% from the previous session’s volume of 26,154,572 shares.The stock last traded at $1.40 and had previously closed at $1.43.

Analyst Ratings Changes

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

Tilray Trading Down 1.4 %

The stock’s 50-day simple moving average is $1.43 and its two-hundred day simple moving average is $1.65. 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 $1.27 billion, a P/E ratio of -5.22 and a beta of 2.09.

Tilray (NASDAQ:TLRY) last issued its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $200.00 million during 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%. Tilray’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.10) EPS. Equities research analysts expect that Tilray Inc will post -0.14 EPS for the current year.

Insider Buying and Selling

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 bought at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, the chief financial officer now owns 26,000 shares of the company’s stock, valued at approximately $35,360. The trade was a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TLRY. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Tilray in the third quarter worth about $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Tilray during the 2nd quarter worth approximately $29,000. Jeppson Wealth Management LLC bought a new position in shares of Tilray during the 2nd quarter valued at approximately $33,000. Vanguard Capital Wealth Advisors purchased a new position in shares of Tilray in the second quarter valued at $34,000. Finally, Vista Capital Partners Inc. bought a new stake in Tilray in the third quarter worth $42,000. 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.