Tilray (NASDAQ:TLRY) Shares Up 2.1% – Time to Buy?

Tilray Inc (NASDAQ:TLRY)’s share price was up 2.1% on Tuesday . The stock traded as high as $1.48 and last traded at $1.43. Approximately 16,812,527 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 39,471,176 shares. The stock had previously closed at $1.40.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reduced 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.

Tilray Trading Up 3.7 %

The company’s 50 day simple moving average is $1.39 and its two-hundred day simple moving average is $1.63. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -5.37 and a beta of 2.08. 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 released its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. During the same quarter last year, the firm earned ($0.10) earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. Research analysts expect that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insider Activity at Tilray

In related news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction dated 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 owns 26,000 shares in the company, valued at approximately $35,360. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray in the third quarter worth $26,000. Vanguard Capital Wealth Advisors bought a new position in Tilray in the 2nd quarter worth $34,000. International Assets Investment Management LLC boosted its holdings in Tilray by 335.3% during the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after acquiring an additional 18,208 shares during the period. Vista Capital Partners Inc. acquired a new stake in shares of Tilray in the third quarter valued at about $42,000. Finally, Capital Management Associates Inc bought a new position in shares of Tilray in the third quarter worth about $45,000. 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.