Tilray (NASDAQ:TLRY) Stock Price Up 1.3% – Should You Buy?

Tilray Inc (NASDAQ:TLRY)’s stock price was up 1.3% during mid-day trading on Wednesday . The company traded as high as $1.23 and last traded at $1.20. Approximately 16,659,630 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 42,269,934 shares. The stock had previously closed at $1.18.

Wall Street Analyst Weigh In

TLRY has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price objective on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday. Roth Mkm decreased 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Stock Performance

The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -4.00 and a beta of 2.08. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $1.33 and a 200-day moving average of $1.60.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Transactions at Tilray

In other news, CFO Carl A. Merton bought 26,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average cost 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 in the company, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

A number of institutional investors have recently modified their holdings of TLRY. Ferguson Wellman Capital Management Inc. acquired a new position in Tilray in the 3rd quarter worth about $26,000. Ameritas Advisory Services LLC acquired a new stake in Tilray in the fourth quarter valued at approximately $32,000. Vista Capital Partners Inc. purchased a new stake in shares of Tilray in the third quarter valued at approximately $42,000. International Assets Investment Management LLC raised its stake in shares of Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after buying an additional 18,208 shares during the period. Finally, Capital Management Associates Inc purchased a new position in shares of Tilray during the 3rd quarter valued at approximately $45,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.