Tilray (NASDAQ:TLRY) Trading Up 5.2% - Should You Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report) shares were up 5.2% on Monday . The company traded as high as $1.42 and last traded at $1.33. Approximately 37,910,535 shares changed hands during trading, an increase of 46% from the average daily volume of 25,927,029 shares. The stock had previously closed at $1.26.

Wall Street Analyst Weigh In

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

Tilray Stock Performance

The stock has a market capitalization of $1.29 billion, a PE ratio of -5.30 and a beta of 2.09. The firm's fifty day moving average is $1.44 and its 200-day moving average is $1.65. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY - Get Free Report) last issued its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. The business had revenue of $200.00 million for the quarter, compared to analysts' expectations of $218.70 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. The business's quarterly revenue was up 13.0% on a year-over-year basis. As a group, research analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Buying and Selling at Tilray

In other news, CFO Carl A. Merton purchased 26,000 shares of the business's stock in a transaction on Friday, November 15th. The shares were bought 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 directly owns 26,000 shares in the company, valued at approximately $35,360. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.87% of the company's stock.

Institutional Trading of Tilray

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its position in Tilray by 22.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company's stock worth $70,000 after buying an additional 7,339 shares in the last quarter. Bank of Montreal Can increased its position in Tilray by 0.3% during the 3rd 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. Arizona State Retirement System raised its stake in Tilray by 4.4% in the 2nd quarter. Arizona State Retirement System now owns 216,693 shares of the company's stock valued at $360,000 after purchasing an additional 9,171 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in Tilray by 58.1% in the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company's stock valued at $52,000 after purchasing an additional 11,632 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Tilray during the 3rd quarter worth about $26,000. 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.