Tilray (NASDAQ:TLRY) Trading 0.8% Higher – Still a Buy?

Tilray Inc (NASDAQ:TLRY)’s share price traded up 0.8% on Thursday . The company traded as high as $1.21 and last traded at $1.19. 20,010,381 shares were traded during mid-day trading, a decline of 53% from the average session volume of 42,300,535 shares. The stock had previously closed at $1.18.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Roth Mkm reduced their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a report on Friday, October 11th. Canaccord Genuity Group lifted their target price on Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.70.

Tilray Stock Performance

The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $1.32 and a 200 day simple moving average of $1.60. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -4.00 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last issued its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The business had revenue of $210.90 million for the quarter, compared to analyst estimates of $216.34 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Tilray

In other news, CFO Carl A. Merton bought 26,000 shares of the business’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the transaction, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its holdings in Tilray by 0.3% in the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after purchasing an additional 7,406 shares in the last quarter. State Street Corp boosted its holdings in Tilray by 4.7% during the third quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after acquiring an additional 88,079 shares during the period. BNP Paribas Financial Markets boosted its holdings in Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after acquiring an additional 1,690,827 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 valued at $2,953,000 after acquiring an additional 107,530 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Tilray by 2.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock valued at $2,617,000 after acquiring an additional 37,300 shares during the period. 9.35% of the stock is owned by institutional investors and hedge funds.

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.