Tilray (NASDAQ:TLRY) Trading Up 2.1% – Still a Buy?

Tilray Inc (NASDAQ:TLRY) shares traded up 2.1% on Friday . The company traded as high as $1.23 and last traded at $1.21. 12,131,713 shares were traded during mid-day trading, a decline of 71% from the average session volume of 42,490,547 shares. The stock had previously closed at $1.18.

Analysts Set New Price Targets

A number of research firms have issued reports on TLRY. Canaccord Genuity Group raised their target price on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday. Roth Mkm cut their target price on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tilray has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Up 0.4 %

The company has a quick ratio of 1.57, a current ratio of 2.47 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $1.33 and a two-hundred day simple moving average of $1.60. The firm has a market cap of $1.07 billion, a PE ratio of -3.95 and a beta of 2.08.

Tilray (NASDAQ:TLRY) last released its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm had revenue of $210.90 million during the quarter, compared to the consensus estimate of $216.34 million. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts expect that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Activity

In related news, CFO Carl A. Merton purchased 26,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, with a total value of $35,360.00. Following the purchase, the chief financial officer now directly owns 26,000 shares of the company’s stock, valued at approximately $35,360. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.87% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tilray

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings 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 during the period. Point72 Asset Management L.P. bought a new stake in Tilray in the third quarter valued at $1,348,000. Bank of Montreal Can increased its position in Tilray by 19.6% during 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 during the period. XTX Topco Ltd raised its holdings in Tilray by 1,079.7% in the 3rd quarter. XTX Topco Ltd now owns 281,504 shares of the company’s stock worth $495,000 after purchasing an additional 257,641 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Tilray by 600.4% in the 3rd quarter. Barclays PLC now owns 204,144 shares of the company’s stock worth $359,000 after purchasing an additional 174,997 shares during the period. Hedge funds and other institutional investors own 9.35% of the company’s stock.

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.