Tilray (NASDAQ:TLRY) Stock Price Up 4.3% – Here’s What Happened

Tilray Inc (NASDAQ:TLRY) shot up 4.3% during trading on Thursday . The stock traded as high as $1.09 and last traded at $1.09. 13,767,159 shares were traded during mid-day trading, a decline of 67% from the average session volume of 41,862,789 shares. The stock had previously closed at $1.04.

Wall Street Analyst Weigh In

TLRY has been the subject of a number of recent analyst reports. Roth Mkm reduced their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th. Canaccord Genuity Group upped their target price on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Tilray currently has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Performance

The company’s 50-day moving average is $1.27 and its two-hundred day moving average is $1.56. The company has a market capitalization of $984.54 million, a P/E ratio of -3.50 and a beta of 2.08. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction on Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can raised its holdings in shares of Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after acquiring an additional 7,406 shares in the last quarter. State Street Corp lifted its position in shares of Tilray by 4.7% in the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock worth $3,452,000 after purchasing an additional 88,079 shares during the period. BNP Paribas Financial Markets increased its position 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 valued at $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 lifted its holdings in Tilray by 6.8% in 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 worth $2,953,000 after buying an additional 107,530 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Tilray by 2.6% during 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 in the last quarter. 9.35% of the stock is currently 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.