Tilray (NASDAQ:TLRY) Shares Up 8% – What’s Next?

Tilray Inc (NASDAQ:TLRY) rose 8% on Thursday . The company traded as high as $1.45 and last traded at $1.44. Approximately 17,417,165 shares traded hands during trading, a decline of 34% from the average daily volume of 26,444,244 shares. The stock had previously closed at $1.33.

Analyst Upgrades and Downgrades

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

Tilray Trading Up 12.0 %

The company has a market capitalization of $1.35 billion, a PE ratio of -5.52 and a beta of 2.09. 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 fifty day moving average is $1.40 and its 200-day moving average is $1.63.

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 analysts’ consensus estimates of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The business had revenue of $200.00 million for the quarter, compared to the consensus estimate of $218.70 million. During the same period last year, the business posted ($0.10) EPS. The business’s revenue was up 13.0% compared to the same quarter last year. On average, analysts anticipate that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insider Activity

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased 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 $35,360. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can boosted its stake in Tilray by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after purchasing an additional 7,406 shares in the last quarter. State Street Corp raised its holdings in shares of Tilray by 4.7% in 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% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 valued at $2,953,000 after buying an additional 107,530 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Tilray by 2.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock valued at $2,617,000 after acquiring an additional 37,300 shares during the period. Institutional investors and hedge funds 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.