Tilray (NASDAQ:TLRY) Trading 1.6% Higher – Should You Buy?

Shares of Tilray Inc (NASDAQ:TLRY) rose 1.6% on Thursday . The stock traded as high as $1.48 and last traded at $1.43. Approximately 14,013,821 shares traded hands during trading, a decline of 46% from the average daily volume of 26,192,488 shares. The stock had previously closed at $1.41.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm cut 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.

Tilray Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 2.47. The company has a market cap of $1.29 billion, a PE ratio of -5.30 and a beta of 2.08. The company’s 50 day moving average price is $1.42 and its 200-day moving average price is $1.64.

Tilray (NASDAQ:TLRY) last issued its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share 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 firm had revenue of $200.00 million during the quarter, compared to analyst estimates of $218.70 million. During the same quarter last year, the business earned ($0.10) earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts anticipate that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Carl A. Merton purchased 26,000 shares of Tilray stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of $1.36 per share, for a total transaction of $35,360.00. Following the transaction, the chief financial officer now directly owns 26,000 shares in the company, valued at $35,360. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. bought a new position in Tilray in the 3rd quarter worth about $26,000. Jeppson Wealth Management LLC bought a new position in Tilray in the 2nd quarter worth $33,000. Vanguard Capital Wealth Advisors bought a new stake in Tilray during the 2nd quarter valued at approximately $34,000. Vista Capital Partners Inc. bought a new stake in shares of Tilray during the third quarter valued at approximately $42,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Tilray by 335.3% in the third quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after buying an additional 18,208 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.