Tilray (NASDAQ:TLRY) Trading 1.7% Higher – Time to Buy?

Tilray Inc (NASDAQ:TLRY) shot up 1.7% during mid-day trading on Monday . The stock traded as high as $0.64 and last traded at $0.62. 12,951,935 shares were traded during mid-day trading, a decline of 71% from the average session volume of 44,829,910 shares. The stock had previously closed at $0.61.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their price target on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Trading Up 4.8 %

The business’s 50-day moving average price is $0.98 and its two-hundred day moving average price is $1.33. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The firm has a market cap of $599.16 million, a price-to-earnings ratio of -2.13 and a beta of 2.13.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings data 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 30.95% and a negative return on equity of 4.40%. The firm had revenue of $210.90 million during the quarter, compared to analyst estimates of $216.34 million. Tilray’s revenue was up 8.7% compared to the same quarter last year. Equities analysts expect that Tilray Inc will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Tilray

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC increased its position in Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock worth $14,092,000 after purchasing an additional 889,086 shares during the last quarter. Bank of Montreal Can increased its position in Tilray by 14.4% during the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company’s stock worth $3,310,000 after purchasing an additional 312,476 shares during the last quarter. Geode Capital Management LLC increased its position in Tilray by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company’s stock worth $3,200,000 after purchasing an additional 403,371 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Tilray by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock worth $2,890,000 after purchasing an additional 769,569 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tilray by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company’s stock worth $2,613,000 after purchasing an additional 286,481 shares during the last quarter. Institutional investors and hedge funds 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.