Tilray (NASDAQ:TLRY) Trading Up 1.7% – Should You Buy?

Tilray Inc (NASDAQ:TLRY) was up 1.7% during mid-day trading on Monday . The company traded as high as $0.64 and last traded at $0.62. Approximately 12,951,935 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 44,829,910 shares. The stock had previously closed at $0.61.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group boosted their price target on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Tilray currently has a consensus rating of “Hold” and an average target price of $2.70.

Tilray Stock Up 4.8 %

The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average is $0.95 and its 200-day moving average is $1.32. The company has a market cap of $633.57 million, a price-to-earnings ratio of -2.25 and a beta of 2.13.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Tidal Investments LLC raised its holdings in Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock worth $14,092,000 after buying an additional 889,086 shares during the last quarter. Bank of Montreal Can raised its holdings in Tilray by 14.4% during the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company’s stock worth $3,310,000 after buying an additional 312,476 shares during the last quarter. Geode Capital Management LLC raised its holdings in Tilray by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company’s stock worth $3,200,000 after buying an additional 403,371 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Tilray by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock worth $2,890,000 after buying an additional 769,569 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tilray by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company’s stock worth $2,613,000 after buying an additional 286,481 shares during the last quarter. Institutional investors and hedge funds 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.