Tilray (NASDAQ:TLRY) Sees Strong Trading Volume – Still a Buy?

Tilray Inc (NASDAQ:TLRY) saw unusually-strong trading volume on Tuesday . Approximately 33,914,189 shares changed hands during trading, an increase of 30% from the previous session’s volume of 26,154,572 shares.The stock last traded at $1.40 and had previously closed at $1.43.

Wall Street Analyst Weigh In

Separately, Roth Mkm reduced their target price 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 company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The stock has a market cap of $1.27 billion, a PE ratio of -5.22 and a beta of 2.09. The stock’s fifty day moving average is $1.44 and its 200-day moving average is $1.65.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings data 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 return on equity of 2.00% and a negative net margin of 26.79%. The business had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $218.70 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. As a group, equities analysts anticipate that Tilray Inc will post -0.14 EPS for the current year.

Insider Activity

In other news, CFO Carl A. Merton acquired 26,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Institutional investors have recently bought and sold shares of the business. Bank of Montreal Can grew its position in shares of Tilray by 0.3% in the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after buying an additional 7,406 shares during the last quarter. State Street Corp lifted its holdings in shares of Tilray by 4.7% in the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after purchasing an additional 88,079 shares during the last quarter. BNP Paribas Financial Markets boosted its position 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 purchasing an additional 1,690,827 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tilray by 6.8% during 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 buying an additional 107,530 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Tilray by 2.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock valued at $2,617,000 after purchasing an additional 37,300 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.