Tilray (NASDAQ:TLRY) Trading 1.6% Higher – Still a Buy?

Tilray Inc (NASDAQ:TLRY) shot up 1.6% during trading on Thursday . The company traded as high as $1.48 and last traded at $1.43. 14,013,821 shares were traded during trading, a decline of 46% from the average session volume of 26,192,488 shares. The stock had previously closed at $1.41.

Wall Street Analyst Weigh In

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

Tilray Stock Up 3.2 %

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 firm has a market capitalization of $1.31 billion, a P/E ratio of -5.39 and a beta of 2.09. The business has a 50 day moving average price of $1.43 and a 200 day moving average price of $1.65.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting 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 company had revenue of $200.00 million during the quarter, compared to analyst estimates of $218.70 million. During the same period in the previous year, the company earned ($0.10) earnings per share. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, analysts predict that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Transactions at Tilray

In other news, CFO Carl A. Merton bought 26,000 shares of Tilray stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost 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 in the company, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The purchase 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.

Hedge Funds Weigh In On Tilray

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its position in Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after purchasing an additional 1,690,827 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Tilray in the 3rd quarter worth approximately $1,348,000. Bank of Montreal Can lifted its position in shares of Tilray by 19.6% during the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock worth $3,622,000 after buying an additional 355,778 shares during the period. Creative Planning boosted its stake in Tilray by 36.6% in the 3rd quarter. Creative Planning now owns 141,921 shares of the company’s stock valued at $250,000 after buying an additional 38,054 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Tilray by 11.5% during the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock worth $1,131,000 after acquiring an additional 70,605 shares in the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

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.