Tilray (NASDAQ:TLRY) Shares Up 4.3% - Time to Buy?

Tilray Inc (NASDAQ:TLRY - Get Free Report)'s share price rose 4.3% during mid-day trading on Thursday . The company traded as high as $1.09 and last traded at $1.09. Approximately 13,767,159 shares traded hands during trading, a decline of 67% from the average daily volume of 41,862,789 shares. The stock had previously closed at $1.04.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group increased their price objective on Tilray from $2.00 to $3.00 and gave the company a "buy" rating in a report 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 for the company in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $2.70.

Tilray Price Performance

The stock's fifty day moving average is $1.26 and its 200-day moving average is $1.54. The stock has a market capitalization of $937.66 million, a PE ratio of -3.33 and a beta of 2.07. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58.

Tilray (NASDAQ:TLRY - Get Free Report) last posted its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.07). The company 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 4.40% and a negative net margin of 30.95%. The business's revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts predict that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the firm's stock in a transaction on Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the purchase, the chief financial officer now directly owns 26,000 shares of the company's stock, valued at $35,360. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tilray

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings in shares of Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company's stock valued at $3,202,000 after purchasing an additional 1,690,827 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Tilray during the 3rd quarter worth approximately $1,348,000. Creative Planning grew its position in Tilray by 36.6% in the third quarter. Creative Planning now owns 141,921 shares of the company's stock worth $250,000 after acquiring an additional 38,054 shares during the period. The Manufacturers Life Insurance Company raised its position in Tilray by 11.5% in the second quarter. The Manufacturers Life Insurance Company now owns 682,478 shares of the company's stock valued at $1,131,000 after purchasing an additional 70,605 shares during the period. Finally, Barclays PLC lifted its stake in shares of Tilray by 600.4% in the 3rd quarter. Barclays PLC now owns 204,144 shares of the company's stock valued at $359,000 after purchasing an additional 174,997 shares during the last quarter. Hedge funds and other institutional investors 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.