Tilray (NASDAQ:TLRY) Stock Price Up 1.3% – Here’s Why

Tilray Inc (NASDAQ:TLRY) shares shot up 1.3% on Tuesday . The stock traded as high as $1.60 and last traded at $1.60. 4,121,774 shares were traded during trading, a decline of 83% from the average session volume of 24,889,479 shares. The stock had previously closed at $1.58.

Wall Street Analysts Forecast Growth

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

Tilray Stock Performance

The company has a 50-day moving average of $1.72 and a 200-day moving average of $1.80. The company has a market cap of $1.52 billion, a PE ratio of -6.22 and a beta of 2.13. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last posted its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting 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 analyst estimates of $218.70 million. During the same quarter in the prior year, the business posted ($0.10) EPS. The business’s revenue was up 13.0% compared to the same quarter last year. As a group, analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On Tilray

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in shares of Tilray by 4.4% in the second quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock valued at $360,000 after acquiring an additional 9,171 shares in the last quarter. CapWealth Advisors LLC lifted its holdings in Tilray by 12.5% during the first quarter. CapWealth Advisors LLC now owns 90,000 shares of the company’s stock worth $222,000 after acquiring an additional 10,000 shares during the period. Private Advisor Group LLC boosted its position in Tilray by 7.3% in the first quarter. Private Advisor Group LLC now owns 175,845 shares of the company’s stock worth $434,000 after purchasing an additional 12,021 shares during the last quarter. HBK Sorce Advisory LLC bought a new position in Tilray in the 1st quarter valued at $37,000. Finally, Prospect Financial Services LLC purchased a new stake in shares of Tilray during the 2nd quarter valued at $26,000. Hedge funds and other institutional investors own 9.35% of the company’s stock.

About Tilray

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.