Tilray (NASDAQ:TLRY) Trading Up 15.5% – Still a Buy?

Shares of Tilray Inc (NASDAQ:TLRY) shot up 15.5% during trading on Wednesday . The company traded as high as $1.20 and last traded at $1.16. 54,470,884 shares were traded during trading, an increase of 24% from the average session volume of 43,898,328 shares. The stock had previously closed at $1.00.

Wall Street Analyst Weigh In

TLRY has been the topic of several research reports. Roth Mkm dropped their price objective on Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a report on Friday, October 11th. Canaccord Genuity Group increased their price objective on shares of Tilray from $2.00 to $3.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Tilray currently has a consensus rating of “Hold” and an average price target of $2.70.

Tilray Trading Up 5.5 %

The business has a 50 day moving average of $1.26 and a 200 day moving average of $1.54. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.58. The firm has a market capitalization of $989.23 million, a price-to-earnings ratio of -3.55 and a beta of 2.07.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Friday, January 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). Tilray had a negative return on equity of 4.40% and a negative net margin of 30.95%. The company had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. The company’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts predict that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Insider Activity at Tilray

In other Tilray news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average price of $1.36 per share, with a total value of $35,360.00. Following the transaction, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tilray

Hedge funds and other institutional investors have recently modified their holdings of the business. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Tilray in the third quarter worth about $26,000. Ameritas Advisory Services LLC purchased a new stake in shares of Tilray in the 4th quarter valued at $32,000. Newman Dignan & Sheerar Inc. grew its position in Tilray by 61.9% during the 4th quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after acquiring an additional 10,000 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Tilray by 335.3% during the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock valued at $42,000 after acquiring an additional 18,208 shares during the last quarter. Finally, Vista Capital Partners Inc. purchased a new position in Tilray during the 3rd quarter valued at about $42,000. 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.