Tilray (NASDAQ:TLRY) Trading 2.1% Higher – Time to Buy?

Tilray Inc (NASDAQ:TLRY) shot up 2.1% on Friday . The company traded as high as $1.23 and last traded at $1.21. 12,131,713 shares were traded during trading, a decline of 71% from the average session volume of 42,490,547 shares. The stock had previously closed at $1.18.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TLRY shares. Roth Mkm dropped their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a research note on Friday, October 11th. Canaccord Genuity Group boosted their target price on Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Tilray has a consensus rating of “Hold” and a consensus price target of $2.70.

Tilray Trading Up 1.7 %

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 stock has a 50 day moving average price of $1.32 and a 200-day moving average price of $1.60.

Tilray (NASDAQ:TLRY) last announced its quarterly earnings results on Friday, January 10th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The company had revenue of $210.90 million during the quarter, compared to analysts’ expectations of $216.34 million. Tilray had a negative return on equity of 2.00% and a negative net margin of 26.79%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, analysts anticipate that Tilray Inc will post -0.14 EPS for the current year.

Insider Buying and Selling at Tilray

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $1.36 per share, for a total transaction of $35,360.00. Following the acquisition, the chief financial officer now owns 26,000 shares in the company, valued at $35,360. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tilray

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its holdings in Tilray by 22.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 39,819 shares of the company’s stock worth $70,000 after purchasing an additional 7,339 shares in the last quarter. Bank of Montreal Can increased its position in shares of Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock valued at $3,787,000 after buying an additional 7,406 shares during the period. Pallas Capital Advisors LLC grew its holdings in shares of Tilray by 58.1% during the 3rd quarter. Pallas Capital Advisors LLC now owns 31,646 shares of the company’s stock worth $52,000 after acquiring an additional 11,632 shares during the period. Ferguson Wellman Capital Management Inc. purchased a new stake in Tilray in the third quarter worth $26,000. Finally, International Assets Investment Management LLC increased its stake in shares of Tilray by 335.3% in the 3rd quarter. International Assets Investment Management LLC now owns 23,639 shares of the company’s stock worth $42,000 after acquiring an additional 18,208 shares in the last quarter. 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.