Tilray (NASDAQ:TLRY) Stock Price Up 6% – What’s Next?

Tilray Inc (NASDAQ:TLRY) shares shot up 6% during mid-day trading on Monday . The company traded as high as $1.42 and last traded at $1.42. 9,577,564 shares changed hands during trading, a decline of 62% from the average session volume of 25,460,709 shares. The stock had previously closed at $1.34.

Analysts Set New Price Targets

Separately, Roth Mkm reduced 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 Stock Up 0.7 %

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 simple moving average is $1.59 and its 200 day simple moving average is $1.73. The firm has a market cap of $1.24 billion, a P/E ratio of -5.06 and a beta of 2.14.

Tilray (NASDAQ:TLRY) last announced its earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The company had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) EPS. As a group, research analysts forecast that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insider Activity

In other news, CFO Carl A. Merton bought 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 purchase, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TLRY. Vanguard Group Inc. raised its position in shares of Tilray by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after purchasing an additional 117,891 shares during the period. Bank of Montreal Can increased its stake in Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after purchasing an additional 7,406 shares in the last quarter. State Street Corp raised its holdings in 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 buying an additional 88,079 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after buying an additional 1,690,827 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Tilray by 6.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after acquiring an additional 107,530 shares in the last quarter. 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.