Tilray (NASDAQ:TLRY) Trading 0.8% Higher – What’s Next?

Tilray Inc (NASDAQ:TLRY) shares were up 0.8% during mid-day trading on Friday . The company traded as high as $1.48 and last traded at $1.47. Approximately 15,046,320 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 34,716,125 shares. The stock had previously closed at $1.46.

Wall Street Analysts Forecast Growth

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 report on Friday, October 11th.

Tilray Price Performance

The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average price is $1.40 and its 200 day moving average price is $1.63. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -5.37 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate 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 in the prior year, the firm posted ($0.10) EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities research analysts predict that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Buying and Selling

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tilray

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Tilray by 32.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company’s stock valued at $760,000 after buying an additional 105,803 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Tilray by 176.7% in the 3rd quarter. Synovus Financial Corp now owns 36,092 shares of the company’s stock valued at $64,000 after purchasing an additional 23,046 shares in the last quarter. Barclays PLC grew its holdings in shares of Tilray by 600.4% in the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after purchasing an additional 174,997 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Tilray by 454.5% during the 3rd quarter. Toronto Dominion Bank now owns 128,923 shares of the company’s stock worth $227,000 after purchasing an additional 105,671 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in Tilray by 1,079.7% during the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock valued at $495,000 after purchasing an additional 257,641 shares during the last quarter. 9.35% of the stock is currently owned by 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.