Tilray (NASDAQ:TLRY) Shares Up 1.2% – Should You Buy?

Tilray Inc (NASDAQ:TLRY) traded up 1.2% on Thursday . The stock traded as high as $0.82 and last traded at $0.81. 7,584,108 shares changed hands during trading, a decline of 84% from the average session volume of 46,135,766 shares. The stock had previously closed at $0.80.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group increased their target price on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.70.

Tilray Price Performance

The company has a market capitalization of $689.18 million, a price-to-earnings ratio of -2.45 and a beta of 2.07. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The company has a 50 day simple moving average of $1.13 and a 200 day simple moving average of $1.43.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The firm had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, research analysts predict that Tilray Inc will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Tilray

A number of hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its stake in Tilray by 22.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock valued at $70,000 after purchasing an additional 7,339 shares in the last quarter. Bank of Montreal Can grew its stake in Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after purchasing an additional 7,406 shares in the last quarter. Newman Dignan & Sheerar Inc. grew its stake in Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock valued at $35,000 after purchasing an additional 10,000 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Tilray by 55.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company’s stock valued at $42,000 after purchasing an additional 11,325 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in Tilray by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock worth $52,000 after buying an additional 11,632 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.