Tilray (NASDAQ:TLRY) Stock Price Up 9.1% - Should You Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares were up 9.1% during trading on Thursday . The company traded as high as $0.71 and last traded at $0.72. Approximately 11,904,470 shares changed hands during trading, a decline of 61% from the average daily volume of 30,610,891 shares. The stock had previously closed at $0.66.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted their price objective on Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Tilray has an average rating of "Hold" and an average price target of $2.70.

Tilray Stock Down 7.2 %

The company's 50-day moving average is $0.85 and its two-hundred day moving average is $1.26. The company has a market cap of $621.38 million, a P/E ratio of -2.21 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The business had revenue of $210.90 million during 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. As a group, equities analysts predict that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

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Institutional Trading of Tilray

Hedge funds have recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in Tilray by 0.3% in the third 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 during the last quarter. Newman Dignan & Sheerar Inc. grew its position in Tilray by 61.9% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company's stock worth $35,000 after acquiring an additional 10,000 shares during the period. Tower Research Capital LLC TRC boosted its stake in Tilray by 55.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company's stock worth $42,000 after buying an additional 11,325 shares during the period. NewEdge Advisors LLC boosted its holdings in Tilray by 92.1% during the 4th quarter. NewEdge Advisors LLC now owns 27,406 shares of the company's stock valued at $36,000 after acquiring an additional 13,136 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its holdings in Tilray by 59.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company's stock worth $49,000 after buying an additional 13,786 shares in the last quarter. 9.35% of the stock is 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.