Tilray (NASDAQ:TLRY) Trading 0.8% Higher – Still a Buy?

Shares of Tilray Inc (NASDAQ:TLRY) rose 0.8% during trading on Friday . The stock traded as high as $1.48 and last traded at $1.47. Approximately 15,046,320 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 34,716,125 shares. The stock had previously closed at $1.46.

Analysts Set New Price Targets

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

Tilray Stock Up 1.1 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The company has a market cap of $1.33 billion, a PE ratio of -5.47 and a beta of 2.09. The firm has a fifty day simple moving average of $1.40 and a 200 day simple moving average of $1.63.

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

Insider Activity

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its stake in shares of Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Tilray in the third quarter valued at approximately $1,348,000. Bank of Montreal Can boosted its holdings 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. XTX Topco Ltd boosted its position in shares of Tilray by 1,079.7% in the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock valued at $495,000 after acquiring an additional 257,641 shares during the period. Finally, Barclays PLC raised its position in shares of Tilray by 600.4% in the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock valued at $359,000 after buying an additional 174,997 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.