Tilray (NASDAQ:TLRY) Stock Price Up 6% – Time to Buy?

Shares of Tilray Inc (NASDAQ:TLRY) rose 6% on Monday . The company traded as high as $1.42 and last traded at $1.42. Approximately 9,577,564 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 25,460,709 shares. The stock had previously closed at $1.34.

Analysts Set New Price Targets

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

Tilray Trading Up 0.7 %

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 has a market capitalization of $1.24 billion, a PE ratio of -5.06 and a beta of 2.14. The firm’s fifty day moving average is $1.59 and its two-hundred day moving average is $1.73.

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

Insider Buying and Selling at Tilray

In related news, CFO Carl A. Merton acquired 26,000 shares of the stock in a transaction on Friday, November 15th. The shares were acquired at an average price 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. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Hedge funds have recently modified their holdings of the stock. Ferguson Wellman Capital Management Inc. bought a new position in Tilray during the third quarter valued at $26,000. Prospect Financial Services LLC bought a new stake in Tilray during the 2nd quarter valued at $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Tilray during the second quarter worth $29,000. Jeppson Wealth Management LLC bought a new position in Tilray in the 2nd quarter worth about $33,000. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Tilray during the second quarter valued at about $37,000. 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.