Tilray (NASDAQ:TLRY) Trading Up 2.7% – Time to Buy?

Tilray Inc (NASDAQ:TLRY) shares shot up 2.7% on Friday . The company traded as high as $1.69 and last traded at $1.69. Approximately 4,426,991 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 24,935,902 shares. The stock had previously closed at $1.64.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reduced their target price on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a report on Friday, October 11th.

Tilray Price Performance

The firm has a fifty day moving average of $1.69 and a two-hundred day moving average of $1.79. 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 company has a market capitalization of $1.48 billion, a PE ratio of -6.24 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last released its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share 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 analyst estimates of $218.70 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Research analysts anticipate that Tilray Inc will post -0.14 EPS for the current fiscal year.

Institutional Trading of Tilray

Large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its stake in Tilray by 22.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock worth $70,000 after acquiring an additional 7,339 shares during the period. Arizona State Retirement System lifted its position in shares of Tilray by 4.4% in the 2nd quarter. Arizona State Retirement System now owns 216,693 shares of the company’s stock worth $360,000 after purchasing an additional 9,171 shares during the period. CapWealth Advisors LLC boosted its stake in shares of Tilray by 12.5% during the 1st quarter. CapWealth Advisors LLC now owns 90,000 shares of the company’s stock valued at $222,000 after purchasing an additional 10,000 shares in the last quarter. Pallas Capital Advisors LLC increased its position in shares of Tilray by 58.1% during the third quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock valued at $52,000 after buying an additional 11,632 shares during the period. Finally, Private Advisor Group LLC raised its stake in Tilray by 7.3% in the first quarter. Private Advisor Group LLC now owns 175,845 shares of the company’s stock worth $434,000 after buying an additional 12,021 shares in the last quarter. 9.35% of the stock is 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.