Tilray (NASDAQ:TLRY) Shares Up 11% - Time to Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares were up 11% on Monday . The company traded as high as $1.82 and last traded at $1.82. Approximately 29,597,931 shares were traded during mid-day trading, an increase of 18% from the average daily volume of 24,996,129 shares. The stock had previously closed at $1.64.

Wall Street Analyst Weigh In

Separately, Roth Mkm lowered their target price on shares of Tilray from $2.00 to $1.75 and set a "neutral" rating on the stock in a research note on Friday, October 11th.

Tilray Stock Performance

The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The firm's fifty day moving average is $1.69 and its 200 day moving average is $1.79. The company has a market cap of $1.56 billion, a PE ratio of -6.41 and a beta of 2.14.

Tilray (NASDAQ:TLRY - Get Free Report) last announced its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $200.00 million for the quarter, compared to analyst estimates of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) earnings per share. As a group, research analysts predict that Tilray Inc will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TLRY. Prospect Financial Services LLC purchased a new position in shares of Tilray in the second quarter worth about $26,000. Signature Estate & Investment Advisors LLC purchased a new position in Tilray during the second quarter worth approximately $29,000. Jeppson Wealth Management LLC acquired a new position in Tilray during the second quarter worth $33,000. Vanguard Capital Wealth Advisors acquired a new stake in shares of Tilray in the 2nd quarter worth $34,000. Finally, HBK Sorce Advisory LLC purchased a new position in shares of Tilray during the 1st quarter worth $37,000. 9.35% of the stock is owned by institutional investors and hedge funds.

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.