Tilray (NASDAQ:TLRY) Trading 0.8% Higher – Still a Buy?

Tilray Inc (NASDAQ:TLRY) shares traded up 0.8% during trading on Thursday . The company traded as high as $1.21 and last traded at $1.19. 20,010,381 shares changed hands during trading, a decline of 53% from the average session volume of 42,300,535 shares. The stock had previously closed at $1.18.

Analysts Set New Price Targets

Several research firms recently issued reports on TLRY. Canaccord Genuity Group increased their price target on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Roth Mkm decreased their price target 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 equities 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 price target of $2.70.

Tilray Trading Up 1.7 %

The stock has a market capitalization of $1.08 billion, a P/E ratio of -4.00 and a beta of 2.08. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The business’s 50 day simple moving average is $1.32 and its 200-day simple moving average is $1.60.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, analysts forecast that Tilray Inc will post -0.14 EPS for the current year.

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, for a total transaction 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 approximately $35,360. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Institutional investors and hedge funds have recently modified their holdings of the business. Ferguson Wellman Capital Management Inc. bought a new position in shares of Tilray in the third quarter worth about $26,000. International Assets Investment Management LLC increased its position in Tilray by 335.3% during 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. acquired a new stake in Tilray during the 3rd quarter valued at approximately $42,000. Ameritas Advisory Services LLC acquired a new stake in Tilray during the 4th quarter valued at approximately $32,000. Finally, Capital Management Associates Inc acquired a new stake in Tilray during the 3rd quarter valued at approximately $45,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.