Tilray (NASDAQ:TLRY) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Tilray Inc (NASDAQ:TLRY) saw unusually-high trading volume on Tuesday . Approximately 33,914,189 shares traded hands during mid-day trading, an increase of 30% from the previous session’s volume of 26,154,572 shares.The stock last traded at $1.40 and had previously closed at $1.43.

Wall Street Analysts Forecast Growth

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

Tilray Trading Down 1.4 %

The company’s 50 day moving average price is $1.43 and its two-hundred day moving average price is $1.65. The firm has a market cap of $1.27 billion, a PE ratio of -5.22 and a beta of 2.09. The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08.

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

Insider Transactions at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost 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 in the company, valued at approximately $35,360. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Tilray

Several large investors have recently added to or reduced their stakes in TLRY. Bank of Montreal Can raised its stake in shares of Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after acquiring an additional 7,406 shares in the last quarter. State Street Corp increased its holdings in Tilray by 4.7% during the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock worth $3,452,000 after purchasing an additional 88,079 shares during the period. BNP Paribas Financial Markets raised its position in Tilray by 1,314.1% during the 3rd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Tilray by 6.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after buying an additional 107,530 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Tilray by 2.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,487,500 shares of the company’s stock worth $2,617,000 after buying an additional 37,300 shares in the last quarter. 9.35% of the stock is 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.