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

Tilray Inc (NASDAQ:TLRY) shares were up 0.7% during mid-day trading on Tuesday . The stock traded as high as $1.45 and last traded at $1.41. Approximately 11,783,609 shares changed hands during trading, a decline of 54% from the average daily volume of 25,383,082 shares. The stock had previously closed at $1.40.

Analyst Upgrades and Downgrades

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

Tilray Trading Up 5.0 %

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 stock has a 50 day moving average of $1.67 and a 200-day moving average of $1.78. The company has a market capitalization of $1.33 billion, a P/E ratio of -5.22 and a beta of 2.14.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $200.00 million for the quarter, compared to analysts’ expectations of $218.70 million. Tilray had a negative net margin of 26.79% and a negative return on equity of 2.00%. Tilray’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.10) earnings per share. On average, research analysts predict that Tilray Inc will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Tilray

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prospect Financial Services LLC acquired a new position in shares of Tilray in the 2nd quarter valued at $26,000. Ferguson Wellman Capital Management Inc. purchased a new stake in shares of Tilray in the 3rd quarter valued at approximately $26,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of Tilray in the 2nd quarter worth approximately $29,000. Jeppson Wealth Management LLC purchased a new position in shares of Tilray during the second quarter worth $33,000. Finally, Vanguard Capital Wealth Advisors acquired a new position in Tilray in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds 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.