Tilray (NASDAQ:TLRY) Trading Up 0.7% – Should You Buy?

Shares of Tilray Inc (NASDAQ:TLRY) traded up 0.7% on Tuesday . The stock traded as high as $1.45 and last traded at $1.41. 11,783,609 shares traded hands during trading, a decline of 54% from the average session volume of 25,383,082 shares. The stock had previously closed at $1.40.

Analysts Set New Price Targets

Separately, Roth Mkm dropped their price target 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’s 50-day moving average is $1.66 and its 200-day moving average is $1.78. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -5.17 and a beta of 2.14. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57.

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

Institutional Trading of Tilray

Institutional investors and hedge funds have recently bought and sold shares of the company. Swiss National Bank raised its position in shares of Tilray by 3.6% during the 1st quarter. Swiss National Bank now owns 1,490,938 shares of the company’s stock valued at $3,683,000 after acquiring an additional 51,700 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Tilray in the 1st quarter worth about $75,000. Avantax Advisory Services Inc. boosted its holdings in shares of Tilray by 46.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 53,110 shares of the company’s stock valued at $131,000 after buying an additional 16,792 shares during the period. HBK Sorce Advisory LLC bought a new stake in shares of Tilray during the 1st quarter valued at about $37,000. Finally, Vanguard Group Inc. raised its stake in Tilray by 3.5% during the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after acquiring an additional 117,891 shares during the period. 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.