Tilray (NASDAQ:TLRY) Stock Price Up 5.2% - Should You Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report) traded up 5.2% during mid-day trading on Tuesday . The stock traded as high as $0.69 and last traded at $0.68. 20,055,536 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 31,399,047 shares. The stock had previously closed at $0.64.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their price target on shares of Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Tilray presently has an average rating of "Hold" and an average price target of $2.70.

Tilray Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The business's 50 day moving average price is $0.92 and its 200 day moving average price is $1.31. The stock has a market capitalization of $609.48 million, a P/E ratio of -2.17 and a beta of 2.13.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.07). The company 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 firm's revenue was up 8.7% on a year-over-year basis. Sell-side analysts forecast that Tilray Inc will post -0.2 EPS for the current year.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC lifted its stake in shares of Tilray by 9.2% in the 4th quarter. Tidal Investments LLC now owns 10,595,264 shares of the company's stock worth $14,092,000 after purchasing an additional 889,086 shares during the period. Bank of Montreal Can raised its position in Tilray by 14.4% in the fourth quarter. Bank of Montreal Can now owns 2,488,982 shares of the company's stock worth $3,310,000 after acquiring an additional 312,476 shares during the period. Geode Capital Management LLC raised its position in Tilray by 20.1% in the fourth quarter. Geode Capital Management LLC now owns 2,405,911 shares of the company's stock worth $3,200,000 after acquiring an additional 403,371 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Tilray by 54.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after acquiring an additional 769,569 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tilray by 17.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,964,380 shares of the company's stock valued at $2,613,000 after acquiring an additional 286,481 shares during the period. 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.