Tilray (NASDAQ:TLRY) Stock Price Up 5.2% – Should You Buy?

Tilray Inc (NASDAQ:TLRY)’s stock price was up 5.2% during mid-day trading 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 reduced their price objective on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th.

Tilray Stock Performance

The stock has a market cap of $1.27 billion, a PE ratio of -5.22 and a beta of 2.09. The stock has a fifty day moving average of $1.44 and a 200-day moving average of $1.65. 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 announced its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company had revenue of $200.00 million for the quarter, compared to the consensus estimate of $218.70 million. During the same period last year, the business posted ($0.10) EPS. The company’s revenue was up 13.0% on a year-over-year basis. On average, equities analysts forecast that Tilray Inc will post -0.14 EPS for the current year.

Insider Transactions at Tilray

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its position in Tilray by 1,314.1% during the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock worth $3,202,000 after buying an additional 1,690,827 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Tilray in the 3rd quarter worth approximately $1,348,000. Bank of Montreal Can increased its stake in Tilray by 19.6% in the 2nd quarter. Bank of Montreal Can now owns 2,169,100 shares of the company’s stock valued at $3,622,000 after purchasing an additional 355,778 shares in the last quarter. XTX Topco Ltd raised its holdings in Tilray by 1,079.7% during the third quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after purchasing an additional 257,641 shares during the last quarter. Finally, Barclays PLC boosted its position in Tilray by 600.4% during the third quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after purchasing an additional 174,997 shares in the last quarter. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.