Tilray (NASDAQ:TLRY) Shares Up 1.7% – Still a Buy?

Tilray Inc (NASDAQ:TLRY) shares rose 1.7% on Monday . The company traded as high as $1.23 and last traded at $1.20. Approximately 33,792,585 shares traded hands during trading, a decline of 9% from the average daily volume of 36,994,340 shares. The stock had previously closed at $1.18.

Analysts Set New Price Targets

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

Tilray Trading Up 1.7 %

The stock’s fifty day simple moving average is $1.32 and its two-hundred day simple moving average is $1.60. The firm has a market cap of $1.08 billion, a PE ratio of -4.00 and a beta of 2.08. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last released its 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 the consensus estimate of $216.34 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. Tilray’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, sell-side analysts forecast that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insider Transactions at Tilray

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the purchase, the chief financial officer now directly owns 26,000 shares of the company’s stock, 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 can be accessed through the SEC website. Insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Several large investors have recently bought and sold shares of TLRY. Bank of Montreal Can grew its stake in shares of Tilray by 0.3% in the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after acquiring an additional 7,406 shares during the period. State Street Corp grew its position in Tilray by 4.7% in the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock worth $3,452,000 after purchasing an additional 88,079 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Tilray by 1,314.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Tilray by 6.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after acquiring an additional 107,530 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Tilray by 2.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock valued at $2,617,000 after acquiring an additional 37,300 shares during 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.