Tilray (NASDAQ:TLRY) Shares Up 0.7% – Time to Buy?

Tilray Inc (NASDAQ:TLRY)’s stock price shot up 0.7% during mid-day trading on Thursday . The stock traded as high as $1.39 and last traded at $1.37. 19,946,382 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 25,521,600 shares. The stock had previously closed at $1.36.

Wall Street Analyst Weigh In

Separately, Roth Mkm dropped their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, October 11th.

Tilray Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The business’s 50-day moving average is $1.57 and its 200-day moving average is $1.72. The company has a market capitalization of $1.21 billion, a PE ratio of -4.96 and a beta of 2.14.

Tilray (NASDAQ:TLRY) last announced its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting 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 business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same quarter last year, the firm earned ($0.10) earnings per share. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, 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 acquired 26,000 shares of Tilray stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the purchase, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tilray

Large investors have recently bought and sold shares of the business. Prospect Financial Services LLC purchased a new stake in shares of Tilray during the 2nd quarter valued at about $26,000. Ferguson Wellman Capital Management Inc. bought a new stake in Tilray in the 3rd quarter worth approximately $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in Tilray during the 2nd quarter valued at $29,000. Jeppson Wealth Management LLC purchased a new stake in Tilray during the 2nd quarter valued at $33,000. Finally, Vanguard Capital Wealth Advisors purchased a new position in Tilray during the second quarter valued at $34,000. 9.35% of the stock is currently owned by 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.