Tilray (NASDAQ:TLRY) Stock Price Up 3.3% – Here’s Why

Tilray Inc (NASDAQ:TLRY) shares were up 3.3% during trading on Monday . The company traded as high as $1.76 and last traded at $1.75. Approximately 8,369,267 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 25,055,100 shares. The stock had previously closed at $1.69.

Analyst Upgrades and Downgrades

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

Tilray Price Performance

The firm has a market capitalization of $1.32 billion, a PE ratio of -3.89 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. The stock has a 50-day moving average price of $1.71 and a 200 day moving average price of $1.79.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Prospect Financial Services LLC purchased a new position in Tilray during the second quarter worth approximately $26,000. Signature Estate & Investment Advisors LLC acquired a new stake in Tilray during the second quarter worth about $29,000. Jeppson Wealth Management LLC purchased a new position in Tilray during the second quarter worth about $33,000. Vanguard Capital Wealth Advisors acquired a new position in shares of Tilray in the 2nd quarter worth approximately $34,000. Finally, HBK Sorce Advisory LLC purchased a new position in shares of Tilray during the 1st quarter worth approximately $37,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.