Tilray (NASDAQ:TLRY) Trading 2.5% Higher – Still a Buy?

Shares of Tilray Inc (NASDAQ:TLRY) rose 2.5% during trading on Tuesday . The stock traded as high as $1.05 and last traded at $1.02. Approximately 9,144,257 shares were traded during trading, a decline of 78% from the average daily volume of 42,233,113 shares. The stock had previously closed at $0.99.

Analysts Set New Price Targets

TLRY has been the subject of several recent analyst reports. Canaccord Genuity Group upped their price target on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Roth Mkm dropped their price objective on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2.70.

Tilray Trading Up 1.5 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The company has a 50 day moving average of $1.26 and a two-hundred day moving average of $1.54. The stock has a market cap of $942.35 million, a PE ratio of -3.35 and a beta of 2.07.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data 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). The firm had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. Tilray’s quarterly revenue was up 8.7% compared to the same quarter last year. Sell-side analysts anticipate that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Insider Activity at Tilray

In related news, CFO Carl A. Merton bought 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired 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 owns 26,000 shares of the company’s stock, valued at approximately $35,360. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in Tilray by 11.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company’s stock worth $1,131,000 after buying an additional 70,605 shares during the last quarter. Algert Global LLC acquired a new position in shares of Tilray during the second quarter valued at $130,000. Sanctuary Advisors LLC bought a new stake in shares of Tilray during the 2nd quarter worth about $65,000. Creative Planning boosted its stake in Tilray by 36.6% during the 3rd quarter. Creative Planning now owns 141,921 shares of the company’s stock valued at $250,000 after purchasing an additional 38,054 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its holdings in Tilray by 253.5% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 39,074 shares of the company’s stock valued at $69,000 after acquiring an additional 28,022 shares during the last quarter. 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.