Tilray (NASDAQ:TLRY) Trading 0.7% Higher – Still a Buy?

Tilray Inc (NASDAQ:TLRY)’s stock price rose 0.7% during mid-day trading on Thursday . The stock traded as high as $1.39 and last traded at $1.37. Approximately 19,946,382 shares traded hands during trading, a decline of 22% from the average daily volume of 25,521,600 shares. The stock had previously closed at $1.36.

Analysts Set New Price Targets

Separately, Roth Mkm lowered their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th.

Tilray Stock Performance

The stock has a market cap of $1.24 billion, a P/E ratio of -5.07 and a beta of 2.14. The stock has a fifty day simple moving average of $1.58 and a 200-day simple moving average of $1.73. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08.

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

Insider Activity

In related news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tilray

A number of large investors have recently added to or reduced their stakes in the company. Prospect Financial Services LLC bought a new position in shares of Tilray during the second quarter worth about $26,000. Ferguson Wellman Capital Management Inc. bought a new stake in shares of Tilray in the third quarter worth $26,000. Signature Estate & Investment Advisors LLC acquired a new position in Tilray during the second quarter worth $29,000. Jeppson Wealth Management LLC bought a new position in Tilray in the second quarter valued at $33,000. Finally, Vanguard Capital Wealth Advisors acquired a new stake in Tilray in the 2nd quarter valued at $34,000. 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.