Tilray (NASDAQ:TLRY) Trading Up 0.8% – Still a Buy?

Tilray Inc (NASDAQ:TLRY)’s stock price was up 0.8% on Thursday . The stock traded as high as $1.21 and last traded at $1.19. Approximately 20,010,381 shares changed hands during trading, a decline of 53% from the average daily volume of 42,300,535 shares. The stock had previously closed at $1.18.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TLRY shares. Roth Mkm dropped their price target 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 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.70.

Tilray Price Performance

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 firm’s fifty day moving average price is $1.33 and its 200 day moving average price is $1.61. The stock has a market cap of $1.08 billion, a PE ratio of -3.98 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The company 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%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities analysts expect that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling at Tilray

In other news, CFO Carl A. Merton bought 26,000 shares of the stock in a transaction dated Friday, November 15th. The stock was purchased at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tilray

Several large investors have recently bought and sold shares of the business. Arizona State Retirement System lifted its position in Tilray by 4.4% during the second quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock valued at $360,000 after purchasing an additional 9,171 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in Tilray by 1,077.2% in the second quarter. J.W. Cole Advisors Inc. now owns 171,054 shares of the company’s stock worth $284,000 after acquiring an additional 156,524 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Tilray during the second quarter worth approximately $83,000. Marathon Trading Investment Management LLC raised its position in Tilray by 52.4% during the second quarter. Marathon Trading Investment Management LLC now owns 76,501 shares of the company’s stock valued at $127,000 after purchasing an additional 26,301 shares during the period. Finally, Bank of Montreal Can lifted 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 valued at $3,622,000 after purchasing an additional 355,778 shares during the last quarter. Institutional investors own 9.35% of the company’s stock.

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.