Tilray (NASDAQ:TLRY) Trading Up 2.2% - Should You Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report) rose 2.2% during mid-day trading on Friday . The stock traded as high as $1.18 and last traded at $1.15. Approximately 12,110,177 shares were traded during trading, a decline of 71% from the average daily volume of 42,268,156 shares. The stock had previously closed at $1.12.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Roth Mkm decreased their price objective on Tilray from $2.00 to $1.75 and set a "neutral" rating for the company in a report on Friday, October 11th. Canaccord Genuity Group lifted their price objective on shares of Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a research note 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 company presently has a consensus rating of "Hold" and a consensus price target of $2.70.

Tilray Price Performance

The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $1.30 and a two-hundred day moving average of $1.58. The firm has a market cap of $1.07 billion, a P/E ratio of -3.80 and a beta of 2.08.

Tilray (NASDAQ:TLRY - Get Free Report) last released its earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.07). The business had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company's quarterly revenue was up 8.7% on a year-over-year basis. Sell-side analysts expect that Tilray Inc will post -0.2 EPS for the current year.

Insider Activity

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of the stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the acquisition, the chief financial officer now owns 26,000 shares of the company's stock, valued at $35,360. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tilray

Several hedge funds have recently bought and sold shares of TLRY. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Tilray in the third quarter worth approximately $26,000. Ameritas Advisory Services LLC purchased a new stake in Tilray in the 4th quarter worth approximately $32,000. International Assets Investment Management LLC grew its holdings in shares of Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company's stock valued at $42,000 after acquiring an additional 18,208 shares in the last quarter. Vista Capital Partners Inc. acquired a new position in shares of Tilray in the third quarter worth $42,000. Finally, Capital Management Associates Inc acquired a new stake in Tilray during the third quarter valued at $45,000. 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.