Tilray (NASDAQ:TLRY) Shares Up 2.6% – Time to Buy?

Tilray Inc (NASDAQ:TLRY)’s stock price rose 2.6% during trading on Thursday . The company traded as high as $1.22 and last traded at $1.19. Approximately 10,586,744 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 25,773,332 shares. The stock had previously closed at $1.16.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm dropped their price objective 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 Performance

The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -4.33 and a beta of 2.08. The company’s fifty day simple moving average is $1.45 and its two-hundred day simple moving average is $1.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm had revenue of $200.00 million during the quarter, compared to analyst estimates of $218.70 million. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.10) EPS. On average, analysts forecast that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Transactions at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $1.36 per share, with a total value of $35,360.00. Following the acquisition, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Hedge funds and other institutional investors have recently modified their holdings of the business. Ferguson Wellman Capital Management Inc. purchased a new position in Tilray during the 3rd quarter valued at about $26,000. Signature Estate & Investment Advisors LLC bought a new position in shares of Tilray in the second quarter valued at approximately $29,000. Jeppson Wealth Management LLC purchased a new position in Tilray during the second quarter valued at approximately $33,000. Pallas Capital Advisors LLC bought a new stake in Tilray during the 2nd quarter worth approximately $37,000. Finally, Vanguard Capital Wealth Advisors purchased a new stake in Tilray in the 2nd quarter worth approximately $34,000. Institutional investors own 9.35% of the company’s stock.

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.