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

Shares of Tilray Inc (NASDAQ:TLRY - Get Free Report) rose 1.7% on Monday . The company traded as high as $0.64 and last traded at $0.62. Approximately 12,951,935 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 44,829,910 shares. The stock had previously closed at $0.61.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $2.70.

Tilray Price Performance

The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The firm's 50 day simple moving average is $0.92 and its 200 day simple moving average is $1.31. The company has a market capitalization of $608.07 million, a PE ratio of -2.16 and a beta of 2.13.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The firm had revenue of $210.90 million for the quarter, compared to analysts' expectations 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 for the quarter was up 8.7% compared to the same quarter last year. As a group, research analysts anticipate that Tilray Inc will post -0.2 EPS for the current fiscal year.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in shares of Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock worth $3,202,000 after purchasing an additional 1,690,827 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Tilray by 9.2% during the fourth 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 last quarter. Quinn Opportunity Partners LLC lifted its position in shares of Tilray by 108.0% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company's stock worth $2,152,000 after purchasing an additional 840,000 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Tilray during the fourth quarter worth $1,029,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Tilray by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company's stock worth $2,890,000 after purchasing an additional 769,569 shares during 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.