Tilray (NASDAQ:TLRY) Trading 0.9% Higher – Here’s What Happened

Shares of Tilray Inc (NASDAQ:TLRY) rose 0.9% during trading on Tuesday . The stock traded as high as $1.75 and last traded at $1.75. Approximately 7,329,748 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 25,050,459 shares. The stock had previously closed at $1.73.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm dropped their price objective 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.

Tilray Trading Down 2.7 %

The business has a 50-day moving average of $1.70 and a 200 day moving average of $1.79. The stock has a market cap of $1.27 billion, a PE ratio of -3.74 and a beta of 2.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) earnings per share. Equities research analysts predict 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. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Tilray by 22.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock worth $70,000 after purchasing an additional 7,339 shares during the last quarter. Arizona State Retirement System boosted its stake in Tilray by 4.4% in the 2nd quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock worth $360,000 after buying an additional 9,171 shares during the last quarter. CapWealth Advisors LLC grew its holdings in Tilray by 12.5% in the 1st quarter. CapWealth Advisors LLC now owns 90,000 shares of the company’s stock valued at $222,000 after buying an additional 10,000 shares during the period. Pallas Capital Advisors LLC increased its stake in shares of Tilray by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock valued at $52,000 after acquiring an additional 11,632 shares during the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of Tilray by 7.3% during the 1st quarter. Private Advisor Group LLC now owns 175,845 shares of the company’s stock valued at $434,000 after acquiring an additional 12,021 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.