Tilray (NASDAQ:TLRY) Trading Up 1% - Should You Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price shot up 1% on Friday . The stock traded as high as $1.60 and last traded at $1.59. 2,667,644 shares were traded during trading, a decline of 89% from the average session volume of 25,027,982 shares. The stock had previously closed at $1.57.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm cut 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 Trading Up 1.3 %

The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The company's 50-day moving average is $1.74 and its 200-day moving average is $1.84. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -3.60 and a beta of 2.13.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.04). The business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The business's revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) EPS. Research analysts anticipate that Tilray Inc will post -0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tilray

Hedge funds have recently modified their holdings of the business. HBK Sorce Advisory LLC acquired a new stake in shares of Tilray in the first quarter valued at $37,000. Prospect Financial Services LLC purchased a new stake in Tilray during the second quarter worth about $26,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of Tilray in the second quarter valued at approximately $29,000. HighPoint Advisor Group LLC acquired a new position in shares of Tilray in the fourth quarter valued at approximately $43,000. Finally, Essex LLC acquired a new stake in Tilray during the 1st quarter worth approximately $49,000. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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.