Tilray (NASDAQ:TLRY) Stock Price Up 4.3% – Still a Buy?

Tilray Inc (NASDAQ:TLRY) was up 4.3% on Thursday . The company traded as high as $1.09 and last traded at $1.09. Approximately 13,767,159 shares were traded during trading, a decline of 67% from the average daily volume of 41,862,789 shares. The stock had previously closed at $1.04.

Analyst Ratings Changes

A number of analysts have recently commented on TLRY shares. Canaccord Genuity Group boosted their price target on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Roth Mkm dropped their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tilray currently has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Performance

The company has a market capitalization of $984.54 million, a PE ratio of -3.50 and a beta of 2.08. The company has a current ratio of 2.54, a quick ratio of 1.58 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average is $1.27 and its two-hundred day moving average is $1.56.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) 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 company had revenue of $210.90 million for the quarter, compared to analysts’ expectations of $216.34 million. The firm’s revenue was up 8.7% on a year-over-year basis. Equities research analysts predict that Tilray Inc will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Carl A. Merton bought 26,000 shares of the 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 of the company’s stock, valued at approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Ferguson Wellman Capital Management Inc. purchased a new stake in Tilray in the 3rd quarter worth approximately $26,000. Ameritas Advisory Services LLC purchased a new stake in shares of Tilray in the fourth quarter worth $32,000. Newman Dignan & Sheerar Inc. increased its stake in shares of Tilray by 61.9% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after purchasing an additional 10,000 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after buying an additional 18,208 shares in the last quarter. Finally, Vista Capital Partners Inc. bought a new position in Tilray in the 3rd quarter worth $42,000. 9.35% of the stock is owned by hedge funds and other 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.