Tilray (NASDAQ:TLRY) Shares Up 2.6% - Time to Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s stock price shot up 2.6% on Thursday . The company traded as high as $1.22 and last traded at $1.19. 10,586,744 shares were traded during mid-day trading, a decline of 59% from the average session volume of 25,773,332 shares. The stock had previously closed at $1.16.

Wall Street Analyst Weigh In

Separately, Roth Mkm cut their price objective on Tilray from $2.00 to $1.75 and set a "neutral" rating for the company in a report on Friday, October 11th.

Tilray Stock Performance

The company's fifty day moving average price is $1.45 and its two-hundred day moving average price is $1.66. 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 company has a market cap of $1.05 billion, a price-to-earnings ratio of -4.30 and a beta of 2.08.

Tilray (NASDAQ:TLRY - Get Free Report) last released its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.04). The firm had revenue of $200.00 million during the quarter, compared to analysts' expectations of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The business's revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm posted ($0.10) EPS. Research analysts expect that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Activity

In other news, CFO Carl A. Merton acquired 26,000 shares of Tilray stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $1.36 per share, with a total value of $35,360.00. Following the acquisition, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tilray

Several hedge funds and other institutional investors have recently made changes to their positions in TLRY. Wealth Enhancement Advisory Services LLC grew 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 buying an additional 7,339 shares during the period. Bank of Montreal Can boosted its stake 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 acquiring an additional 7,406 shares during the last quarter. Arizona State Retirement System grew its holdings in Tilray by 4.4% during the 2nd 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 during the period. Pallas Capital Advisors LLC raised its position in shares of Tilray by 58.1% during the 3rd 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 last quarter. Finally, Ferguson Wellman Capital Management Inc. bought a new stake in shares of Tilray during the 3rd quarter valued at $26,000. 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.