Tilray (NASDAQ:TLRY) Trading Up 0.4% – Still a Buy?

Shares of Tilray Inc (NASDAQ:TLRY) shot up 0.4% on Tuesday . The company traded as high as $1.25 and last traded at $1.21. 10,968,820 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 25,766,971 shares. The stock had previously closed at $1.20.

Wall Street Analysts Forecast Growth

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

Tilray Trading Up 2.1 %

The stock has a market cap of $1.11 billion, a PE ratio of -4.50 and a beta of 2.08. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The business has a 50-day moving average of $1.47 and a 200 day moving average of $1.67.

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

Insider Transactions at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased 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 of the company’s stock, 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 is available at this hyperlink. Insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Several institutional investors have recently made changes to their positions in the stock. Ferguson Wellman Capital Management Inc. purchased a new stake in Tilray during the third quarter valued at about $26,000. Signature Estate & Investment Advisors LLC acquired a new stake in Tilray during the 2nd quarter worth approximately $29,000. Jeppson Wealth Management LLC purchased a new position in Tilray in the second quarter valued at approximately $33,000. Vanguard Capital Wealth Advisors acquired a new position in Tilray during the second quarter valued at approximately $34,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Tilray during the second quarter worth approximately $37,000. 9.35% of the stock is owned by hedge funds and other institutional investors.

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.