Tilray (NASDAQ:TLRY) Stock Price Up 0.2% – Time to Buy?

Tilray Inc (NASDAQ:TLRY)’s share price was up 0.2% during mid-day trading on Wednesday . The stock traded as high as $1.72 and last traded at $1.71. Approximately 4,769,040 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 25,034,281 shares. The stock had previously closed at $1.71.

Analyst Ratings Changes

Separately, 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 report on Friday, October 11th.

Tilray Trading Down 2.3 %

The company has a current ratio of 2.47, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.29 billion, a PE ratio of -3.89 and a beta of 2.13. The company’s 50-day moving average is $1.70 and its 200 day moving average is $1.79.

Tilray (NASDAQ:TLRY) last released its earnings results on Thursday, October 10th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The company had revenue of $200.00 million for the quarter, compared to analysts’ expectations of $218.70 million. During the same quarter in the previous year, the business posted ($0.10) EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, sell-side analysts predict that Tilray Inc will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. SpiderRock Advisors LLC acquired a new position in Tilray during the first quarter worth $247,000. Private Advisor Group LLC raised its position in shares of Tilray by 7.3% in the first quarter. Private Advisor Group LLC now owns 175,845 shares of the company’s stock valued at $434,000 after purchasing an additional 12,021 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Tilray by 8.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,679,532 shares of the company’s stock worth $6,699,000 after acquiring an additional 213,834 shares during the last quarter. Capstone Investment Advisors LLC boosted its stake in Tilray by 320.9% during the 1st quarter. Capstone Investment Advisors LLC now owns 95,736 shares of the company’s stock valued at $236,000 after purchasing an additional 72,989 shares during the period. Finally, CapWealth Advisors LLC boosted its position in shares of Tilray by 12.5% in the first quarter. CapWealth Advisors LLC now owns 90,000 shares of the company’s stock valued at $222,000 after acquiring an additional 10,000 shares during the period. Institutional investors and hedge funds 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.