Tilray (NASDAQ:TLRY) Stock Price Up 2.1% - Still a Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price traded up 2.1% on Tuesday . The stock traded as high as $1.48 and last traded at $1.43. 16,812,527 shares traded hands during trading, a decline of 57% from the average session volume of 39,471,176 shares. The stock had previously closed at $1.40.

Wall Street Analyst Weigh In

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

Tilray Price Performance

The firm has a market cap of $1.31 billion, a PE ratio of -5.37 and a beta of 2.08. The firm's fifty day simple moving average is $1.38 and its two-hundred day simple moving average is $1.63. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08.

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

Insider Transactions at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the firm's stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the purchase, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.87% of the company's stock.

Institutional Investors Weigh In On Tilray

A number of hedge funds have recently made changes to their positions in the company. Bank of Montreal Can lifted its position in Tilray by 0.3% during 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. State Street Corp raised its position in shares of Tilray by 4.7% during the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company's stock valued at $3,452,000 after buying an additional 88,079 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Tilray by 1,314.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock valued at $3,202,000 after acquiring an additional 1,690,827 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tilray by 6.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company's stock worth $2,953,000 after acquiring an additional 107,530 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Tilray by 2.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company's stock worth $2,617,000 after acquiring an additional 37,300 shares during the last quarter. 9.35% of the stock is currently owned by hedge funds and other 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.