Tilray (NASDAQ:TLRY) Stock Price Up 8% – Should You Buy?

Shares of Tilray Inc (NASDAQ:TLRY) rose 8% on Thursday . The stock traded as high as $1.45 and last traded at $1.44. Approximately 17,417,165 shares were traded during trading, a decline of 34% from the average daily volume of 26,444,244 shares. The stock had previously closed at $1.33.

Wall Street Analysts Forecast Growth

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

Tilray Stock Down 0.7 %

The stock has a market capitalization of $1.31 billion, a P/E ratio of -5.37 and a beta of 2.09. 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 stock has a fifty day moving average price of $1.40 and a 200 day moving average price of $1.63.

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

Insider Activity at Tilray

In related news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the transaction, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tilray

Several hedge funds have recently bought and sold shares of the stock. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Tilray during the 3rd quarter valued at $26,000. Jeppson Wealth Management LLC purchased a new stake in Tilray during the second quarter valued at about $33,000. Vanguard Capital Wealth Advisors purchased a new stake in Tilray during the second quarter valued at about $34,000. Vista Capital Partners Inc. bought a new stake in Tilray during the third quarter worth about $42,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Tilray by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after purchasing an additional 18,208 shares in the last quarter. 9.35% of the stock is currently owned by institutional investors.

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.