Tilray (NASDAQ:TLRY) Shares Up 3.9% – Here’s Why

Shares of Tilray Inc (NASDAQ:TLRY) shot up 3.9% during mid-day trading on Thursday . The company traded as high as $1.35 and last traded at $1.34. 13,880,792 shares were traded during trading, a decline of 46% from the average session volume of 25,475,352 shares. The stock had previously closed at $1.29.

Analyst Ratings Changes

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

Tilray Stock Up 2.3 %

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 company’s 50-day simple moving average is $1.62 and its 200-day simple moving average is $1.75.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The firm 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 posted ($0.10) EPS. The company’s revenue was up 13.0% on a year-over-year basis. As a group, research analysts expect that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Buying and Selling at Tilray

In other news, CFO Carl A. Merton acquired 26,000 shares of the firm’s 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 directly owns 26,000 shares in the company, valued at $35,360. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Large investors have recently modified their holdings of the company. Prospect Financial Services LLC acquired a new stake in shares of Tilray during the second quarter worth $26,000. Ferguson Wellman Capital Management Inc. bought a new position in Tilray during the third quarter worth $26,000. Signature Estate & Investment Advisors LLC bought a new position in Tilray during the second quarter worth $29,000. Jeppson Wealth Management LLC bought a new position in Tilray during the second quarter worth $33,000. Finally, Vanguard Capital Wealth Advisors bought a new position in Tilray during the second quarter worth $34,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.