Tilray (NASDAQ:TLRY) Trading 0.9% Higher – Time to Buy?

Tilray Inc (NASDAQ:TLRY) traded up 0.9% on Tuesday . The stock traded as high as $1.75 and last traded at $1.75. 7,329,748 shares were traded during trading, a decline of 71% from the average session volume of 25,050,459 shares. The stock had previously closed at $1.73.

Analyst Ratings Changes

Separately, 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 report on Friday, October 11th.

Tilray Price Performance

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 stock has a fifty day simple moving average of $1.70 and a two-hundred day simple moving average of $1.79. The company has a market cap of $1.27 billion, a PE ratio of -3.74 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $200.00 million for the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) earnings per share. On average, equities analysts predict that Tilray Inc will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Tilray

A number of large investors have recently made changes to their positions in TLRY. HBK Sorce Advisory LLC acquired a new position in Tilray during the first quarter worth about $37,000. Prospect Financial Services LLC acquired a new position in Tilray during the second quarter worth $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in Tilray during the second quarter worth $29,000. Essex LLC acquired a new stake in Tilray in the first quarter valued at $49,000. Finally, Jeppson Wealth Management LLC purchased a new position in shares of Tilray in the second quarter valued at $33,000. Hedge funds and other institutional investors 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.