Tilray (NASDAQ:TLRY) Shares Up 2.9% – Should You Buy?

Tilray Inc (NASDAQ:TLRY)’s share price traded up 2.9% during mid-day trading on Monday . The company traded as high as $1.23 and last traded at $1.23. 10,401,481 shares changed hands during trading, a decline of 60% from the average session volume of 25,739,031 shares. The stock had previously closed at $1.19.

Wall Street Analyst Weigh In

Separately, Roth Mkm decreased their price target 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 Price Performance

The company has a market cap of $1.08 billion, a PE ratio of -4.44 and a beta of 2.08. The stock has a fifty day moving average price of $1.48 and a 200-day moving average price of $1.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings data on Thursday, October 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). The business had revenue of $200.00 million during the quarter, compared to analyst estimates of $218.70 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. Tilray’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company earned ($0.10) earnings per share. On average, equities analysts expect that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Buying and Selling at Tilray

In related news, CFO Carl A. Merton purchased 26,000 shares of the stock in a transaction on Friday, November 15th. The shares were bought at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 26,000 shares in the company, valued at approximately $35,360. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of Tilray

Several large investors have recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. bought a new position in Tilray in the 3rd quarter worth $26,000. Signature Estate & Investment Advisors LLC bought a new position in shares of Tilray in the second quarter worth about $29,000. Jeppson Wealth Management LLC acquired a new position in shares of Tilray during the 2nd quarter worth about $33,000. Vanguard Capital Wealth Advisors bought a new stake in Tilray during the 2nd quarter valued at approximately $34,000. Finally, Pallas Capital Advisors LLC acquired a new stake in Tilray in the 2nd quarter valued at approximately $37,000. 9.35% of the stock is owned by institutional investors.

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.