Tilray (NASDAQ:TLRY) Sees Strong Trading Volume - Should You Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 52,063,017 shares were traded during mid-day trading, an increase of 20% from the previous session's volume of 43,394,531 shares.The stock last traded at $1.17 and had previously closed at $1.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TLRY shares. Canaccord Genuity Group raised their price objective 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 lowered their price target on shares of Tilray from $2.00 to $1.75 and set a "neutral" rating for the company in a report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $2.70.

Tilray Price Performance

The business has a 50 day moving average price of $1.24 and a 200-day moving average price of $1.53. The company has a market capitalization of $937.66 million, a price-to-earnings ratio of -3.33 and a beta of 2.07. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54.

Tilray (NASDAQ:TLRY - Get Free Report) last posted 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). The business had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The business's revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at Tilray

In other news, CFO Carl A. Merton acquired 26,000 shares of Tilray stock in a transaction on Friday, November 15th. The stock was purchased at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.87% of the company's stock.

Hedge Funds Weigh In On Tilray

A number of institutional investors have recently modified their holdings of TLRY. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Tilray during the third quarter valued at about $26,000. Verdence Capital Advisors LLC purchased a new position in shares of Tilray during the fourth quarter valued at approximately $29,000. International Assets Investment Management LLC raised its position in Tilray by 335.3% in 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 during the last quarter. Vista Capital Partners Inc. purchased a new position in Tilray during the 3rd quarter worth $42,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Tilray in the 4th quarter worth $32,000. 9.35% of the stock is owned by institutional investors and hedge funds.

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.