Tilray (NASDAQ:TLRY) Stock Price Up 4% – Still a Buy?

Tilray Inc (NASDAQ:TLRY) shares rose 4% on Friday . The company traded as high as $1.71 and last traded at $1.71. Approximately 7,497,567 shares changed hands during trading, a decline of 70% from the average daily volume of 25,026,160 shares. The stock had previously closed at $1.64.

Analyst Upgrades and Downgrades

Separately, Roth Mkm cut their price objective on shares of 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 firm has a fifty day moving average price of $1.71 and a 200 day moving average price of $1.79. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.31 billion, a PE ratio of -3.84 and a beta of 2.13.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. HBK Sorce Advisory LLC acquired a new position in shares of Tilray in the 1st quarter valued at $37,000. Prospect Financial Services LLC acquired a new position in Tilray in the second quarter valued at about $26,000. Signature Estate & Investment Advisors LLC purchased a new position in Tilray during the second quarter worth about $29,000. Essex LLC acquired a new stake in shares of Tilray during the first quarter valued at about $49,000. Finally, Jeppson Wealth Management LLC purchased a new stake in shares of Tilray in the 2nd quarter valued at approximately $33,000. 9.35% of the stock is currently owned by hedge funds and other institutional investors.

Tilray Company Profile

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.