Tilray (NASDAQ:TLRY) Stock Price Up 2.7% – Here’s Why

Tilray Inc (NASDAQ:TLRY)’s stock price was up 2.7% on Friday . The stock traded as high as $1.69 and last traded at $1.69. Approximately 4,426,991 shares changed hands during trading, a decline of 82% from the average daily volume of 24,935,902 shares. The stock had previously closed at $1.64.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reduced their price target on 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 company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average price of $1.69 and a two-hundred day moving average price of $1.79. The stock has a market capitalization of $1.48 billion, a P/E ratio of -6.07 and a beta of 2.14.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting 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 company had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same period last year, the company earned ($0.10) EPS. Tilray’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts expect that Tilray Inc will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Tilray

Large investors have recently bought and sold shares of the business. HBK Sorce Advisory LLC bought a new stake in Tilray in the 1st quarter worth about $37,000. Prospect Financial Services LLC bought a new stake in Tilray in the 2nd quarter worth about $26,000. Signature Estate & Investment Advisors LLC bought a new stake in Tilray in the 2nd quarter worth about $29,000. Essex LLC bought a new stake in Tilray in the 1st quarter worth about $49,000. Finally, Jeppson Wealth Management LLC bought a new stake in shares of Tilray during the 2nd quarter valued at about $33,000. 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.