Tilray (NASDAQ:TLRY) Trading 15.5% Higher – Still a Buy?

Tilray Inc (NASDAQ:TLRY)’s share price was up 15.5% during trading on Wednesday . The company traded as high as $1.20 and last traded at $1.16. Approximately 54,470,884 shares changed hands during mid-day trading, an increase of 24% from the average daily volume of 43,898,328 shares. The stock had previously closed at $1.00.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Canaccord Genuity Group upped their target price on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Roth Mkm decreased 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tilray has a consensus rating of “Hold” and an average price target of $2.70.

Tilray Trading Down 5.7 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.58 and a current ratio of 2.54. The company has a 50 day moving average of $1.24 and a 200 day moving average of $1.53. The stock has a market capitalization of $937.66 million, a price-to-earnings ratio of -3.33 and a beta of 2.07.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The business had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. Tilray’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, research analysts predict that Tilray Inc will post -0.2 EPS for the current fiscal year.

Insider Activity at Tilray

In other news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction dated Friday, November 15th. The shares were purchased at an average price 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 $35,360. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ferguson Wellman Capital Management Inc. acquired a new position in Tilray during the third quarter worth $26,000. Verdence Capital Advisors LLC acquired a new position in shares of Tilray in the fourth quarter valued at approximately $29,000. International Assets Investment Management LLC increased its stake in Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after buying an additional 18,208 shares during the period. Vista Capital Partners Inc. purchased a new position in Tilray in the 3rd quarter valued at approximately $42,000. Finally, Ameritas Advisory Services LLC purchased a new position in Tilray in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds 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.