Tilray (NASDAQ:TLRY) Trading Up 1.7% – What’s Next?

Shares of Tilray Inc (NASDAQ:TLRY) shot up 1.7% during trading on Monday . The company traded as high as $1.23 and last traded at $1.20. 33,792,585 shares were traded during trading, a decline of 9% from the average session volume of 36,994,340 shares. The stock had previously closed at $1.18.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TLRY. Roth Mkm cut 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. Canaccord Genuity Group lifted their price target on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Tilray has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Price Performance

The firm has a 50 day moving average of $1.32 and a 200-day moving average of $1.60. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.08 billion, a P/E ratio of -4.00 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts predict that Tilray Inc will post -0.14 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Carl A. Merton purchased 26,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the acquisition, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can grew its stake in shares of Tilray by 19.6% in the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after buying an additional 355,778 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Tilray by 11.5% during the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock worth $1,131,000 after acquiring an additional 70,605 shares during the last quarter. Algert Global LLC purchased a new stake in Tilray during the second quarter valued at approximately $130,000. Sanctuary Advisors LLC bought a new stake in shares of Tilray in the 2nd quarter valued at approximately $65,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of Tilray by 54.8% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 52,067 shares of the company’s stock worth $86,000 after purchasing an additional 18,423 shares during the period. 9.35% of the stock is 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.