Tilray (NASDAQ:TLRY) Shares Gap Up – Still a Buy?

Tilray Inc (NASDAQ:TLRY)’s share price gapped up before the market opened on Monday . The stock had previously closed at $1.26, but opened at $1.34. Tilray shares last traded at $1.36, with a volume of 29,048,903 shares.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reduced their target price on shares of 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 Up 6.7 %

The company has a market capitalization of $1.21 billion, a PE ratio of -4.98 and a beta of 2.08. The company has a fifty day simple moving average of $1.44 and a 200-day simple moving average of $1.65. The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share (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 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) EPS. The business’s revenue was up 13.0% compared to the same quarter last year. Analysts predict 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 on Friday, November 15th. The shares were bought at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the acquisition, the chief financial officer now directly 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 document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ferguson Wellman Capital Management Inc. purchased a new position in Tilray in the third quarter worth approximately $26,000. Signature Estate & Investment Advisors LLC purchased a new stake in Tilray during the second quarter worth approximately $29,000. Jeppson Wealth Management LLC acquired a new stake in Tilray during the second quarter worth approximately $33,000. Vanguard Capital Wealth Advisors purchased a new position in shares of Tilray in the 2nd quarter valued at $34,000. Finally, International Assets Investment Management LLC raised its stake in Tilray by 335.3% during the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after acquiring an additional 18,208 shares in the last quarter. 9.35% of the stock is owned by institutional investors and hedge funds.

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.