Tilray (NASDAQ:TLRY) Trading 1.7% Higher – Time to Buy?

Tilray Inc (NASDAQ:TLRY) traded up 1.7% during trading on Monday . The company traded as high as $0.64 and last traded at $0.62. 12,951,935 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 44,829,910 shares. The stock had previously closed at $0.61.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Trading Up 4.8 %

The firm has a market cap of $599.16 million, a PE ratio of -2.13 and a beta of 2.13. The company’s fifty day moving average price is $0.98 and its two-hundred day moving average price is $1.33. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last issued its earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The firm had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Tilray Inc will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Tilray

A number of institutional investors have recently added to or reduced their stakes in TLRY. BNP Paribas Financial Markets boosted its holdings 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 in the last quarter. Tidal Investments LLC boosted its holdings in Tilray by 9.2% during the fourth quarter. Tidal Investments LLC now owns 10,595,264 shares of the company’s stock worth $14,092,000 after buying an additional 889,086 shares in the last quarter. Quinn Opportunity Partners LLC boosted its holdings in Tilray by 108.0% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,618,080 shares of the company’s stock worth $2,152,000 after buying an additional 840,000 shares in the last quarter. Virtu Financial LLC purchased a new stake in Tilray during the fourth quarter worth about $1,029,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Tilray by 54.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,172,935 shares of the company’s stock worth $2,890,000 after buying an additional 769,569 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.