Tilray (NASDAQ:TLRY) Shares Up 0.7% - Time to Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report) traded up 0.7% on Thursday . The stock traded as high as $1.39 and last traded at $1.37. 19,946,382 shares traded hands during trading, a decline of 22% from the average session volume of 25,521,600 shares. The stock had previously closed at $1.36.

Analysts Set New Price Targets

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 Price Performance

The company has a market capitalization of $1.24 billion, a P/E ratio of -5.07 and a beta of 2.14. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The firm's 50-day moving average is $1.58 and its 200-day moving average is $1.73.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) 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 firm had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. Analysts predict that Tilray Inc will post -0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Carl A. Merton purchased 26,000 shares of the company's stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the transaction, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.87% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TLRY. Vanguard Group Inc. lifted its position in shares of Tilray by 3.5% in the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company's stock valued at $8,707,000 after acquiring an additional 117,891 shares in the last quarter. Bank of Montreal Can lifted its holdings in Tilray by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company's stock worth $3,787,000 after purchasing an additional 7,406 shares in the last quarter. State Street Corp boosted its stake in Tilray by 4.7% in the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company's stock worth $3,452,000 after purchasing an additional 88,079 shares during the period. BNP Paribas Financial Markets boosted its stake in Tilray by 1,314.1% in the 3rd 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Tilray by 6.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company's stock valued at $2,953,000 after buying an additional 107,530 shares in the last quarter. Institutional investors own 9.35% of the company's stock.

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.