Tilray (NASDAQ:TLRY) Trading 1.3% Higher - Time to Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report) traded up 1.3% during mid-day trading on Wednesday . The stock traded as high as $1.23 and last traded at $1.20. 16,659,630 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 42,269,934 shares. The stock had previously closed at $1.18.

Analyst Ratings Changes

TLRY has been the subject of several analyst reports. Canaccord Genuity Group raised their price target on shares of Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a research note on Monday. Roth Mkm lowered their target price on Tilray from $2.00 to $1.75 and set a "neutral" rating for the company in a research report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $2.70.

Tilray Price Performance

The firm has a market cap of $1.07 billion, a P/E ratio of -4.37 and a beta of 2.08. 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 business's 50 day moving average is $1.33 and its two-hundred day moving average is $1.61.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share 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 analyst estimates of $216.34 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company's quarterly revenue was up 8.7% on a year-over-year basis. As a group, analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Carl A. Merton acquired 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $1.36 per share, with a total value of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TLRY. Wealth Enhancement Advisory Services LLC boosted its position in shares of Tilray by 22.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company's stock worth $70,000 after purchasing an additional 7,339 shares in the last quarter. Bank of Montreal Can raised its stake in Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company's stock worth $3,787,000 after buying an additional 7,406 shares during the period. Arizona State Retirement System boosted its holdings in Tilray by 4.4% in the second quarter. Arizona State Retirement System now owns 216,693 shares of the company's stock worth $360,000 after acquiring an additional 9,171 shares in the last quarter. Pallas Capital Advisors LLC grew its stake in Tilray by 58.1% in the third quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company's stock valued at $52,000 after acquiring an additional 11,632 shares during the period. Finally, Ferguson Wellman Capital Management Inc. bought a new stake in shares of Tilray during the third quarter valued at approximately $26,000. 9.35% of the stock is owned by 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.