Tilray (NASDAQ:TLRY) Stock Price Up 2.1% – What’s Next?

Tilray Inc (NASDAQ:TLRY) rose 2.1% on Friday . The company traded as high as $1.23 and last traded at $1.21. Approximately 12,131,713 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 42,490,547 shares. The stock had previously closed at $1.18.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Canaccord Genuity Group increased their price target on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Roth Mkm lowered their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Price Performance

The stock has a 50-day simple moving average of $1.32 and a 200-day simple moving average of $1.60. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The firm had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. Tilray’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts predict 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 stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $1.36 per share, with a total value 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. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its holdings in Tilray by 1,314.1% during the 3rd 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 in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Tilray in the third quarter valued at approximately $1,348,000. Bank of Montreal Can grew its stake in Tilray by 19.6% during the second quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after acquiring an additional 355,778 shares in the last quarter. Creative Planning increased its holdings in Tilray by 36.6% during the 3rd quarter. Creative Planning now owns 141,921 shares of the company’s stock worth $250,000 after acquiring an additional 38,054 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Tilray by 11.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock worth $1,131,000 after purchasing an additional 70,605 shares in the last quarter. 9.35% of the stock is currently owned by 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.