Tilray (NASDAQ:TLRY) Trading 0.4% Higher – Time to Buy?

Tilray Inc (NASDAQ:TLRY) shares shot up 0.4% during mid-day trading on Wednesday . The stock traded as high as $1.38 and last traded at $1.37. 8,812,914 shares were traded during mid-day trading, a decline of 65% from the average session volume of 25,454,963 shares. The stock had previously closed at $1.36.

Analyst Ratings Changes

Separately, Roth Mkm lowered their price target on Tilray from $2.00 to $1.75 and set a “neutral” rating for the company in a report on Friday, October 11th.

Tilray Stock Up 0.7 %

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 stock’s 50-day moving average is $1.58 and its 200-day moving average is $1.73.

Tilray (NASDAQ:TLRY) last posted 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 for the quarter, compared to analysts’ expectations of $218.70 million. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. As a group, research analysts expect that Tilray Inc will post -0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tilray news, CFO Carl A. Merton bought 26,000 shares of the business’s 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 approximately $35,360. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Tilray

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Tilray by 3.5% in the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock worth $8,707,000 after purchasing an additional 117,891 shares during the last quarter. Bank of Montreal Can lifted its holdings in Tilray by 0.3% during the 3rd quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after buying an additional 7,406 shares during the period. State Street Corp grew its position in shares of Tilray by 4.7% in the 3rd quarter. State Street Corp now owns 1,961,338 shares of the company’s stock valued at $3,452,000 after buying an additional 88,079 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Tilray by 1,314.1% in the third quarter. BNP Paribas Financial Markets now owns 1,819,494 shares of the company’s stock valued at $3,202,000 after buying an additional 1,690,827 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tilray by 6.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,677,899 shares of the company’s stock worth $2,953,000 after acquiring an additional 107,530 shares during the last quarter. 9.35% of the stock is currently owned by institutional investors and hedge funds.

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.