Tilray (NASDAQ:TLRY) Stock Price Up 6% – Still a Buy?

Tilray Inc (NASDAQ:TLRY)’s share price rose 6% during mid-day trading on Monday . The company traded as high as $1.42 and last traded at $1.42. Approximately 9,577,564 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 25,460,709 shares. The stock had previously closed at $1.34.

Analyst Ratings Changes

Separately, Roth Mkm dropped their price objective on shares of Tilray from $2.00 to $1.75 and set a “neutral” rating on the stock in a report on Friday, October 11th.

Tilray Stock Up 6.0 %

The stock has a market capitalization of $1.28 billion, a P/E ratio of -5.26 and a beta of 2.14. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.47 and a quick ratio of 1.57. The stock has a fifty day moving average price of $1.61 and a 200 day moving average price of $1.74.

Tilray (NASDAQ:TLRY) last issued its earnings results on Thursday, October 10th. The company reported ($0.04) EPS for the quarter, hitting 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 business had revenue of $200.00 million during the quarter, compared to the consensus estimate of $218.70 million. During the same quarter last year, the company earned ($0.10) EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. On average, research analysts forecast that Tilray Inc will post -0.14 earnings per share for the current year.

Insider Buying and Selling

In other Tilray news, CFO Carl A. Merton acquired 26,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $1.36 per share, with a total value of $35,360.00. Following the completion of the acquisition, the chief financial officer now owns 26,000 shares of the company’s stock, valued at $35,360. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tilray

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Tilray by 3.5% in the first quarter. Vanguard Group Inc. now owns 3,525,160 shares of the company’s stock valued at $8,707,000 after acquiring an additional 117,891 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in shares of Tilray during the 1st quarter valued at about $165,000. Lazard Asset Management LLC bought a new stake in Tilray in the 1st quarter worth approximately $118,000. Bayesian Capital Management LP lifted its position in Tilray by 193.0% in the 1st quarter. Bayesian Capital Management LP now owns 54,800 shares of the company’s stock worth $135,000 after buying an additional 36,100 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in Tilray by 4.4% in the first quarter. California State Teachers Retirement System now owns 678,990 shares of the company’s stock worth $1,677,000 after buying an additional 28,586 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.