Tilray (NASDAQ:TLRY) Trading 2.1% Higher – Time to Buy?

Shares of Tilray Inc (NASDAQ:TLRY) rose 2.1% on Tuesday . The company traded as high as $1.48 and last traded at $1.43. Approximately 16,812,527 shares were traded during trading, a decline of 57% from the average daily volume of 39,471,176 shares. The stock had previously closed at $1.40.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm cut their target price 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.

Tilray Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The company’s fifty day moving average price is $1.39 and its 200 day moving average price is $1.63. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -5.37 and a beta of 2.08.

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

Insider Transactions at Tilray

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the acquisition, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at $35,360. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Tilray during the third quarter valued at approximately $26,000. Vanguard Capital Wealth Advisors acquired a new position in Tilray during the second quarter worth about $34,000. International Assets Investment Management LLC raised its position in Tilray by 335.3% in the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after acquiring an additional 18,208 shares in the last quarter. Vista Capital Partners Inc. bought a new stake in shares of Tilray in the 3rd quarter worth approximately $42,000. Finally, Capital Management Associates Inc acquired a new stake in Tilray during the third quarter valued at approximately $45,000. 9.35% of the stock is owned by institutional investors and hedge funds.

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.