Tilray (NASDAQ:TLRY) Trading 0.4% Higher – Should You Buy?

Shares of Tilray Inc (NASDAQ:TLRY) rose 0.4% during trading on Wednesday . The stock traded as high as $1.38 and last traded at $1.37. Approximately 8,812,914 shares changed hands during trading, a decline of 65% from the average daily volume of 25,454,963 shares. The stock had previously closed at $1.36.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm decreased their price target on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a report on Friday, October 11th.

Tilray Stock Up 0.7 %

The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -5.06 and a beta of 2.14. The firm has a 50 day moving average price of $1.59 and a two-hundred day moving average price of $1.73.

Tilray (NASDAQ:TLRY) last announced 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). 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 for the quarter, compared to analysts’ expectations of $218.70 million. During the same period in the previous year, the company posted ($0.10) earnings per share. Tilray’s revenue was up 13.0% compared to the same quarter last year. On average, equities analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Tilray

In other news, CFO Carl A. Merton bought 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the completion of the transaction, the chief financial officer now owns 26,000 shares in the company, valued at approximately $35,360. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.87% of the stock is owned by insiders.

Institutional Investors Weigh In On Tilray

Large investors have recently added to or reduced their stakes in the company. Prospect Financial Services LLC purchased a new position in Tilray in the 2nd quarter valued at about $26,000. Ferguson Wellman Capital Management Inc. acquired a new stake in Tilray during the 3rd quarter valued at approximately $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in Tilray during the 2nd quarter worth approximately $29,000. Jeppson Wealth Management LLC acquired a new position in shares of Tilray in the 2nd quarter valued at approximately $33,000. Finally, Vanguard Capital Wealth Advisors purchased a new position in shares of Tilray during the 2nd quarter valued at approximately $34,000. 9.35% of the stock is owned by institutional investors and hedge funds.

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.