Tilray (NASDAQ:TLRY) Trading Up 1.7% - Should You Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares shot up 1.7% on Monday . The company traded as high as $1.23 and last traded at $1.20. 33,792,585 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 36,994,340 shares. The stock had previously closed at $1.18.

Wall Street Analyst Weigh In

Several research firms recently commented on TLRY. Canaccord Genuity Group increased their target price on shares of Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a report on Monday, January 13th. Roth Mkm reduced their price objective on Tilray from $2.00 to $1.75 and set a "neutral" rating on the stock in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $2.70.

Tilray Stock Up 1.7 %

The company's 50-day simple moving average is $1.32 and its two-hundred day simple moving average is $1.60. The firm has a market cap of $1.08 billion, a PE ratio of -4.00 and a beta of 2.08. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The business had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray's revenue was up 8.7% compared to the same quarter last year. On average, analysts predict that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the transaction, the chief financial officer now directly owns 26,000 shares of the company's stock, valued at $35,360. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tilray

Several large investors have recently made changes to their positions in the business. Madrona Financial Services LLC lifted its position in Tilray by 40.0% in the 4th quarter. Madrona Financial Services LLC now owns 70,000 shares of the company's stock valued at $93,000 after acquiring an additional 20,000 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Tilray during the 4th quarter worth approximately $32,000. Pallas Capital Advisors LLC boosted its stake in shares of Tilray by 59.4% in the fourth quarter. Pallas Capital Advisors LLC now owns 50,438 shares of the company's stock worth $67,000 after acquiring an additional 18,792 shares during the period. JPMorgan Chase & Co. increased its holdings in Tilray by 32.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 432,031 shares of the company's stock valued at $760,000 after acquiring an additional 105,803 shares during the last quarter. Finally, Synovus Financial Corp raised its holdings in shares of Tilray by 176.7% during the 3rd quarter. Synovus Financial Corp now owns 36,092 shares of the company's stock worth $64,000 after acquiring an additional 23,046 shares in the last quarter. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

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.