Tilray (NASDAQ:TLRY) Stock Price Up 2.3% – Still a Buy?

Shares of Tilray Inc (NASDAQ:TLRY) traded up 2.3% during trading on Thursday . The company traded as high as $1.13 and last traded at $1.10. 23,890,441 shares were traded during trading, a decline of 48% from the average session volume of 45,624,891 shares. The stock had previously closed at $1.07.

Analyst Upgrades and Downgrades

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

Tilray Stock Performance

The firm’s fifty day simple moving average is $1.25 and its 200 day simple moving average is $1.54. The company has a market capitalization of $989.23 million, a price-to-earnings ratio of -3.52 and a beta of 2.07. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58.

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

Insider Activity at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Tilray

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. acquired a new position in Tilray in the third quarter worth about $26,000. International Assets Investment Management LLC grew its stake in shares of Tilray by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after purchasing an additional 18,208 shares during the period. Vista Capital Partners Inc. bought a new position in shares of Tilray during the 3rd quarter worth approximately $42,000. Ameritas Advisory Services LLC bought a new position in shares of Tilray during the 4th quarter worth approximately $32,000. Finally, Capital Management Associates Inc acquired a new stake in Tilray in the 3rd quarter valued at $45,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

About Tilray

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.