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

Tilray Inc (NASDAQ:TLRY)’s stock price was up 1.3% on Wednesday . The company traded as high as $1.23 and last traded at $1.20. Approximately 16,659,630 shares traded hands during trading, a decline of 61% from the average daily volume of 42,269,934 shares. The stock had previously closed at $1.18.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TLRY shares. Canaccord Genuity Group increased their price target on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday. Roth Mkm decreased their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Tilray has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Performance

The company has a market cap of $1.07 billion, a PE ratio of -4.41 and a beta of 2.08. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The stock’s 50-day simple moving average is $1.34 and its 200 day simple moving average is $1.61.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The firm had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities analysts anticipate that Tilray Inc will post -0.14 EPS for the current year.

Insider Activity

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the acquisition, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Several hedge funds have recently added to or reduced their stakes in TLRY. BNP Paribas Financial Markets boosted its stake in shares of Tilray by 1,314.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after purchasing an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Tilray in the third quarter worth approximately $1,348,000. Bank of Montreal Can boosted its position in shares of Tilray by 19.6% in the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after acquiring an additional 355,778 shares during the last quarter. XTX Topco Ltd boosted its position in shares of Tilray by 1,079.7% in the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after acquiring an additional 257,641 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Tilray by 600.4% in the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after acquiring an additional 174,997 shares during the last quarter. 9.35% of the stock is currently owned by hedge funds and other 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.